Royal Bank of Canada Reaffirms “Outperform” Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They currently have a $40.00 price objective on the stock. Royal Bank of Canada’s target price suggests a potential upside of 69.49% from the stock’s current price.

A number of other equities analysts also recently commented on NAMS. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $41.60.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock opened at $23.60 on Friday. The stock’s 50 day simple moving average is $23.55 and its 200-day simple moving average is $19.94. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $25.54, for a total value of $762,266.84. Following the sale, the insider now owns 10,656,172 shares of the company’s stock, valued at $272,158,632.88. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 446,730 shares of company stock worth $11,438,695 over the last 90 days. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Large investors have recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in NewAmsterdam Pharma by 291.9% during the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after acquiring an additional 2,978,263 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after purchasing an additional 628,251 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of NewAmsterdam Pharma by 51.1% during the third quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock worth $25,607,000 after purchasing an additional 520,772 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after buying an additional 217,902 shares during the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.