NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated at Citigroup

Research analysts at Citigroup began coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $42.00 price target on the stock. Citigroup’s price target indicates a potential upside of 130.77% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Scotiabank lifted their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 10th. They set a “buy” rating and a $44.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an “overweight” rating and a $42.00 target price on the stock. Finally, UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.89.

NewAmsterdam Pharma Trading Down 1.6%

NAMS stock opened at $18.20 on Tuesday. The firm’s 50-day moving average price is $18.39 and its two-hundred day moving average price is $20.82. NewAmsterdam Pharma has a 12-month low of $14.06 and a 12-month high of $27.29. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -9.68 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $1.46 million. Equities analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Buying and Selling

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 100,000 shares of NewAmsterdam Pharma stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $19.29, for a total value of $1,929,000.00. Following the completion of the transaction, the chief operating officer now directly owns 44,000 shares of the company’s stock, valued at approximately $848,760. The trade was a 69.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James N. Topper bought 8,584 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $19.50 per share, with a total value of $167,388.00. Following the completion of the acquisition, the director now directly owns 3,022,153 shares of the company’s stock, valued at approximately $58,931,983.50. The trade was a 0.28% increase in their position. The disclosure for this purchase can be found here. 20.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in NewAmsterdam Pharma in the first quarter worth about $25,000. GF Fund Management CO. LTD. purchased a new position in NewAmsterdam Pharma in the fourth quarter worth about $50,000. National Bank of Canada FI purchased a new position in NewAmsterdam Pharma in the fourth quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock worth $80,000 after buying an additional 596 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NewAmsterdam Pharma by 130.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock valued at $123,000 after purchasing an additional 3,390 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

About NewAmsterdam Pharma

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.