Scotiabank Boosts NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $52.00

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) had its target price lifted by stock analysts at Scotiabank from $47.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price target would indicate a potential upside of 156.54% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC dropped their price target on NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday. HC Wainwright reiterated a "buy" rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $43.80.

NewAmsterdam Pharma Price Performance

NAMS stock traded down $0.73 during mid-day trading on Thursday, reaching $20.27. The company had a trading volume of 844,577 shares, compared to its average volume of 681,669. The company has a market capitalization of $1.87 billion, a PE ratio of -7.80 and a beta of -0.06. The firm has a 50 day moving average of $22.55 and a 200 day moving average of $20.32. NewAmsterdam Pharma has a 12 month low of $15.19 and a 12 month high of $27.29.

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NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. Analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total value of $2,629,000.80. Following the sale, the insider now directly owns 10,908,502 shares in the company, valued at approximately $284,711,902.20. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 404,927 shares of company stock worth $10,390,787 over the last quarter. Insiders own 19.50% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of NAMS. GF Fund Management CO. LTD. purchased a new position in NewAmsterdam Pharma in the fourth quarter worth $50,000. Frazier Life Sciences Management L.P. grew its stake in NewAmsterdam Pharma by 23.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock worth $409,052,000 after buying an additional 3,061,224 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in NewAmsterdam Pharma by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,571 shares of the company's stock valued at $6,517,000 after buying an additional 14,288 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth about $721,000. Finally, Woodline Partners LP grew its stake in shares of NewAmsterdam Pharma by 108.7% during the fourth quarter. Woodline Partners LP now owns 2,430,782 shares of the company's stock worth $62,471,000 after acquiring an additional 1,266,105 shares during the last quarter. Hedge funds and other institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.