Brokerages Set NewAmsterdam Pharma (NASDAQ:NAMS) PT at $43.33

NewAmsterdam Pharma (NASDAQ:NAMS) has received an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $43.33.

Several equities analysts recently commented on NAMS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday. Scotiabank raised their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 27th. UBS Group set a $41.00 price target on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Finally, HC Wainwright restated a “buy” rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th.

NewAmsterdam Pharma Stock Up 4.6 %

Shares of NASDAQ:NAMS opened at $15.86 on Friday. The stock has a market cap of $1.74 billion, a P/E ratio of -6.10 and a beta of -0.01. NewAmsterdam Pharma has a 52-week low of $14.06 and a 52-week high of $27.29. The business’s 50 day moving average is $20.51 and its 200 day moving average is $21.26.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analyst estimates of $3.30 million. On average, sell-side analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper acquired 4,005 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the completion of the transaction, the director now directly owns 3,012,434 shares of the company’s stock, valued at $63,321,362.68. This represents a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91 % decrease in their position. The disclosure for this sale can be found here. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. increased its stake in NewAmsterdam Pharma by 23.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock worth $409,052,000 after buying an additional 3,061,224 shares in the last quarter. Bain Capital Life Sciences Investors LLC increased its position in shares of NewAmsterdam Pharma by 2.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock worth $275,481,000 after purchasing an additional 245,197 shares in the last quarter. RA Capital Management L.P. lifted its holdings in NewAmsterdam Pharma by 9.7% in the 4th quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company’s stock valued at $227,316,000 after purchasing an additional 781,000 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in NewAmsterdam Pharma by 378.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock valued at $110,879,000 after purchasing an additional 3,412,590 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake 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 purchasing an additional 2,978,263 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.