NewAmsterdam Pharma (NASDAQ:NAMS) Earns Buy Rating from HC Wainwright

by · The Markets Daily

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $52.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 104.72% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. BMO Capital Markets assumed coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 target price for the company. Royal Bank Of Canada decreased their target price on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.73.

Get Our Latest Analysis on NAMS

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS opened at $25.40 on Tuesday. The business’s 50-day moving average is $29.51 and its 200 day moving average is $31.53. NewAmsterdam Pharma has a 1 year low of $23.05 and a 1 year high of $42.21. The firm has a market capitalization of $3.04 billion, a P/E ratio of -11.76 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $3.70 million during the quarter, compared to analyst estimates of $2.83 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. On average, analysts expect that NewAmsterdam Pharma will post -1.82 EPS for the current year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the transaction, the chief accounting officer directly owned 24,353 shares of the company’s stock, valued at $738,870.02. This trade represents a 81.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johannes Kastelein sold 125,000 shares of NewAmsterdam Pharma stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $26.91, for a total transaction of $3,363,750.00. Following the completion of the sale, the insider owned 69,302 shares in the company, valued at approximately $1,864,916.82. This trade represents a 64.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 270,000 shares of company stock valued at $7,757,450 over the last 90 days. 12.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently modified their holdings of NAMS. California State Teachers Retirement System lifted its holdings in NewAmsterdam Pharma by 4,105.5% during the 2nd quarter. California State Teachers Retirement System now owns 2,284,796 shares of the company’s stock worth $77,432,000 after buying an additional 2,230,467 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of 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 acquiring an additional 1,145,128 shares in the last quarter. Duquesne Family Office LLC increased its holdings in NewAmsterdam Pharma by 131.2% during the 3rd quarter. Duquesne Family Office LLC now owns 1,923,700 shares of the company’s stock worth $54,710,000 after purchasing an additional 1,091,525 shares during the period. Castle Hook Partners LP acquired a new stake in NewAmsterdam Pharma in the 4th quarter valued at about $38,062,000. Finally, Adage Capital Partners GP L.L.C. raised its position in NewAmsterdam Pharma by 54.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock valued at $54,566,000 after purchasing an additional 1,062,359 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

(Get Free Report)

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.

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