Cantor Fitzgerald Forecasts Strong Price Appreciation for NewAmsterdam Pharma (NASDAQ:NAMS) Stock

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective boosted by equities researchers at Cantor Fitzgerald from $52.00 to $61.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 218.04% from the stock’s current price.

A number of other research analysts have also commented on NAMS. Royal Bank Of Canada cut their price objective on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and set a $45.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.82.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS opened at $19.18 on Wednesday. NewAmsterdam Pharma has a one year low of $17.90 and a one year high of $42.21. The company has a fifty day moving average price of $21.84 and a 200 day moving average price of $29.37. The stock has a market cap of $2.29 billion, a P/E ratio of -11.35 and a beta of 0.15.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.33. NewAmsterdam Pharma had a negative net margin of 789.95% and a negative return on equity of 31.39%. The company had revenue of $19.16 million for the quarter, compared to analyst estimates of $8.82 million. As a group, equities research analysts anticipate that NewAmsterdam Pharma will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, insider Johannes Kastelein sold 50,246 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $25.03, for a total value of $1,257,657.38. Following the sale, the insider owned 69,302 shares of the company’s stock, valued at $1,734,629.06. The trade was a 42.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Davidson acquired 10,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $22.65 per share, with a total value of $226,500.00. Following the purchase, the chief executive officer owned 792,923 shares in the company, valued at approximately $17,959,705.95. This represents a 1.28% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 176,846 shares of company stock worth $4,661,919 over the last 90 days. Corporate insiders own 12.74% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. raised its position in NewAmsterdam Pharma by 6.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after purchasing an additional 1,145,128 shares in the last quarter. Maverick Capital Ltd. lifted its stake in NewAmsterdam Pharma by 15.4% during the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock worth $69,987,000 after purchasing an additional 292,176 shares during the period. Bank of America Corp DE boosted its holdings in NewAmsterdam Pharma by 84.4% during the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after purchasing an additional 387,698 shares in the last quarter. SEB Asset Management AB acquired a new stake in NewAmsterdam Pharma during the first quarter valued at approximately $8,728,000. Finally, Stempoint Capital LP boosted its holdings in NewAmsterdam Pharma by 147.1% during the first quarter. Stempoint Capital LP now owns 180,658 shares of the company’s stock valued at $5,783,000 after purchasing an additional 107,552 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma is a biopharmaceutical company focused on developing oral treatments for cardiometabolic diseases, particularly conditions involving elevated cholesterol and cardiovascular risk. The company’s lead investigational medicine is obicetrapib, an oral inhibitor of cholesteryl ester transfer protein (CETP) being studied to lower LDL cholesterol. NewAmsterdam has evaluated obicetrapib both on its own and in combination with ezetimibe, including in clinical studies involving people with inherited high cholesterol or established cardiovascular disease whose cholesterol remains elevated despite existing treatment.