NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective hoisted by stock analysts at Royal Bank Of Canada from $39.00 to $44.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 19.70% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of NewAmsterdam Pharma from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company began coverage on NewAmsterdam Pharma in a research note on Monday, August 25th. They set an “overweight” rating and a $45.00 price objective for the company. HC Wainwright assumed coverage on NewAmsterdam Pharma in a report on Monday, October 20th. They issued a “buy” rating and a $52.00 price objective for the company. Citigroup upped their target price on NewAmsterdam Pharma from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group began coverage on NewAmsterdam Pharma in a report on Thursday, July 17th. They set a “neutral” rating and a $27.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.30.

NewAmsterdam Pharma Stock Down 0.8%

Shares of NASDAQ NAMS opened at $36.76 on Thursday. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $41.47. The business’s 50 day moving average price is $31.43 and its 200 day moving average price is $24.40. The firm has a market cap of $4.14 billion, a P/E ratio of -17.93 and a beta of 0.05.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). NewAmsterdam Pharma had a negative return on equity of 28.30% and a negative net margin of 627.59%.The business had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $4.54 million. As a group, research analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the transaction, the insider owned 119,302 shares in the company, valued at $2,897,845.58. This trade represents a 29.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $25.83, for a total value of $3,874,500.00. Following the completion of the sale, the chief accounting officer directly owned 15,000 shares in the company, valued at $387,450. This represents a 90.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 2,391 shares of company stock worth $58,424 and sold 226,342 shares worth $5,748,019. Insiders own 20.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAMS. Quarry LP acquired a new stake in NewAmsterdam Pharma during the 1st quarter worth $25,000. Mather Group LLC. acquired a new stake in shares of NewAmsterdam Pharma in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of NewAmsterdam Pharma in the third quarter worth about $30,000. Wolverine Asset Management LLC acquired a new position in NewAmsterdam Pharma during the third quarter worth about $69,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in NewAmsterdam Pharma by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company’s stock worth $79,000 after acquiring an additional 662 shares during the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

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.