NewAmsterdam Pharma (NASDAQ:NAMS) Stock Rating Upgraded by Wall Street Zen

NewAmsterdam Pharma (NASDAQ:NAMS) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts have also weighed in on NAMS. Stifel Nicolaus began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 10th. They issued a “buy” rating and a $44.00 price target for the company. Citigroup began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price target for the company. Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.89.

NewAmsterdam Pharma Stock Up 4.7%

NASDAQ:NAMS opened at $19.85 on Friday. NewAmsterdam Pharma has a 1-year low of $14.06 and a 1-year high of $27.29. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -10.56 and a beta of -0.03. The stock has a fifty day simple moving average of $18.92 and a 200 day simple moving average of $20.53.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share 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 company had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. Equities analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In related news, COO Douglas F. Kling sold 100,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $19.29, for a total value of $1,929,000.00. Following the completion of the sale, the chief operating officer directly owned 44,000 shares of the company’s stock, valued at approximately $848,760. This represents a 69.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James N. Topper purchased 2,520 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were purchased at an average cost of $18.43 per share, with a total value of $46,443.60. Following the completion of the purchase, the director directly owned 3,024,873 shares in the company, valued at approximately $55,748,409.39. This represents a 0.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 12,364 shares of company stock valued at $236,839. Company insiders own 20.84% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of NewAmsterdam Pharma by 24.8% during the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock worth $590,000 after purchasing an additional 4,556 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $8,907,000. Swiss National Bank raised its stake in shares of NewAmsterdam Pharma by 105.1% during the 4th quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,850,000 after purchasing an additional 36,900 shares in the last quarter. Northern Trust Corp purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $556,000. Finally, Barclays PLC raised its stake in shares of NewAmsterdam Pharma by 120.0% during the 4th quarter. Barclays PLC now owns 16,713 shares of the company’s stock worth $429,000 after purchasing an additional 9,117 shares in 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.