NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) Receives $42.89 Consensus Target Price from Brokerages

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) has earned an average recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $42.89.

A number of research analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a report on Tuesday, June 10th. They set a “buy” rating and a $44.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Citigroup assumed coverage on NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a “buy” rating and a $42.00 price objective on the stock. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a report on Wednesday, June 4th. They set an “overweight” rating and a $42.00 price objective on the stock. Finally, Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, July 5th.

NewAmsterdam Pharma Trading Down 0.5%

NASDAQ:NAMS opened at $20.92 on Monday. The firm has a market cap of $2.35 billion, a P/E ratio of -11.13 and a beta of -0.03. The stock’s 50 day simple moving average is $19.22 and its 200-day simple moving average is $20.27. NewAmsterdam Pharma has a 12-month low of $14.06 and a 12-month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its earnings results 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 company had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. Research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper bought 2,520 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average cost of $18.43 per share, for a total transaction of $46,443.60. Following the completion of the transaction, the director owned 3,024,873 shares of the company’s stock, valued at $55,748,409.39. This represents a 0.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief operating officer owned 44,000 shares in the company, valued at $848,760. This trade represents a 69.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 12,364 shares of company stock worth $236,839 over the last 90 days. Company insiders own 20.84% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in NewAmsterdam Pharma by 19.4% during 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 period. Legal & General Group Plc lifted its position in NewAmsterdam Pharma by 24.8% during the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock worth $590,000 after buying an additional 4,556 shares during the period. American Century Companies Inc. purchased a new position in NewAmsterdam Pharma during the fourth quarter worth about $8,907,000. Swiss National Bank raised its holdings in shares of NewAmsterdam Pharma by 105.1% in 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 during the period. Finally, Northern Trust Corp purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter worth about $556,000. 89.89% of the stock is currently 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.