NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued on Wednesday. The firm set a “buy” rating and a $57.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 93.61% from the stock’s current price.

NAMS has been the topic of a number of other reports. Royal Bank Of Canada increased their price objective on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of NewAmsterdam Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their price target on NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of NewAmsterdam Pharma in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

NewAmsterdam Pharma Stock Down 3.8%

Shares of NAMS traded down $1.16 during trading on Wednesday, reaching $29.44. The company’s stock had a trading volume of 945,861 shares, compared to its average volume of 779,201. The company has a fifty day moving average of $32.96 and a two-hundred day moving average of $33.56. NewAmsterdam Pharma has a twelve month low of $14.06 and a twelve month high of $42.00. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -17.02 and a beta of 0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results on Wednesday, February 18th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%. As a group, equities analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Louis G. Lange sold 44,619 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $30.42, for a total value of $1,357,309.98. Following the transaction, the director directly owned 10,360 shares in the company, valued at approximately $315,151.20. This trade represents a 81.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael H. Davidson sold 443,707 shares of NewAmsterdam Pharma stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $33.25, for a total transaction of $14,753,257.75. Following the completion of the transaction, the chief executive officer directly owned 174,144 shares of the company’s stock, valued at $5,790,288. This trade represents a 71.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,466,933 shares of company stock valued at $48,448,017. Company insiders own 20.84% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of NAMS. Farther Finance Advisors LLC raised its position in shares of NewAmsterdam Pharma by 4,425.0% during the 4th quarter. Farther Finance Advisors LLC now owns 724 shares of the company’s stock worth $25,000 after purchasing an additional 708 shares during the period. Wells Fargo & Company MN boosted its position in NewAmsterdam Pharma by 50.0% during the 4th quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares during the period. Mather Group LLC. acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in NewAmsterdam Pharma during the 3rd quarter worth $30,000. Finally, Navalign LLC acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth $46,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.