NewAmsterdam Pharma (NASDAQ:NAMS) Upgraded to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of NewAmsterdam Pharma (NASDAQ:NAMS) to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on NAMS. Jefferies Financial Group reissued a “buy” rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a research note on Monday. Royal Bank Of Canada upped their price target on shares of NewAmsterdam Pharma from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.42.

NewAmsterdam Pharma Trading Up 9.0%

NAMS stock opened at $32.34 on Monday. NewAmsterdam Pharma has a 1-year low of $21.14 and a 1-year high of $42.21. The firm has a market cap of $3.78 billion, a PE ratio of -18.07 and a beta of 0.08. The business’s 50-day moving average price is $33.17 and its two-hundred day moving average price is $32.95.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.40) earnings per share (EPS) for the quarter. The business had revenue of $3.04 million during the quarter. NewAmsterdam Pharma had a negative return on equity of 26.49% and a negative net margin of 943.23%. On average, analysts forecast that NewAmsterdam Pharma will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 65,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $35.69, for a total value of $2,319,850.00. Following the completion of the transaction, the chief accounting officer owned 24,353 shares of the company’s stock, valued at approximately $869,158.57. This trade represents a 72.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.74% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of large investors have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. increased its position in shares of NewAmsterdam Pharma by 1.4% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 16,943,774 shares of the company’s stock valued at $594,388,000 after acquiring an additional 241,818 shares during the last quarter. Capital World Investors grew its stake in NewAmsterdam Pharma by 1.6% in the fourth quarter. Capital World Investors now owns 9,984,000 shares of the company’s stock valued at $350,239,000 after purchasing an additional 161,289 shares in the last quarter. Wellington Management Group LLP grew its stake in NewAmsterdam Pharma by 21.0% in the third quarter. Wellington Management Group LLP now owns 4,020,126 shares of the company’s stock valued at $114,332,000 after purchasing an additional 697,129 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of NewAmsterdam Pharma by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock worth $54,566,000 after purchasing an additional 1,062,359 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its position in shares of NewAmsterdam Pharma by 15.6% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,911,634 shares of the company’s stock worth $82,807,000 after purchasing an additional 393,855 shares during the last quarter. 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.