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

by · The Markets Daily

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) had its price objective raised by Royal Bank Of Canada from $39.00 to $44.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 18.28% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma in a report on Monday, August 25th. They set an “overweight” rating and a $45.00 price target for the company. Citigroup lifted their target price on shares of NewAmsterdam Pharma from $42.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 17th. The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma in a report on Thursday, July 17th. They issued a “neutral” rating and a $27.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Wednesday, October 8th. Finally, Needham & Company LLC lifted their target price on shares of NewAmsterdam Pharma from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.30.

Read Our Latest Research Report on NAMS

NewAmsterdam Pharma Price Performance

NAMS stock traded down $0.93 on Thursday, reaching $37.20. 226,710 shares of the company traded hands, compared to its average volume of 929,420. NewAmsterdam Pharma has a one year low of $14.06 and a one year high of $41.47. The company has a market cap of $4.19 billion, a P/E ratio of -22.89 and a beta of 0.05. The firm has a fifty day simple moving average of $30.91 and a 200-day simple moving average of $24.17.

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $4.54 million. On average, sell-side analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total transaction of $3,874,500.00. Following the sale, the chief accounting officer directly owned 15,000 shares in the company, valued at approximately $387,450. The trade was a 90.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 2,391 shares of company stock worth $58,424 and have sold 226,342 shares worth $5,748,019. 20.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NAMS. Alps Advisors Inc. increased its stake in shares of NewAmsterdam Pharma by 4.4% during the 1st quarter. Alps Advisors Inc. now owns 77,961 shares of the company’s stock worth $1,596,000 after purchasing an additional 3,252 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of NewAmsterdam Pharma during the 1st quarter worth $215,000. HB Wealth Management LLC increased its stake in shares of NewAmsterdam Pharma by 28.9% during the 1st quarter. HB Wealth Management LLC now owns 11,247 shares of the company’s stock worth $230,000 after purchasing an additional 2,519 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after purchasing an additional 3,390 shares during the last quarter. Finally, Bryce Point Capital LLC acquired a new position in NewAmsterdam Pharma in the 1st quarter valued at $438,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

(Get Free Report)

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.

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