NewAmsterdam Pharma (NASDAQ:NAMS) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report issued on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $36.00 price target on the stock.

A number of other brokerages have also commented on NAMS. TD Cowen began coverage on NewAmsterdam Pharma in a research note on Wednesday, May 15th. They set a buy rating for the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $33.80.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $16.42 on Wednesday. The stock has a 50 day moving average of $18.10 and a 200 day moving average of $19.85. NewAmsterdam Pharma has a 12 month low of $5.63 and a 12 month high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. The firm had revenue of $2.28 million for the quarter, compared to the consensus estimate of $2.20 million. As a group, analysts forecast that NewAmsterdam Pharma will post -2.24 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael H. Davidson acquired 5,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $17.26 per share, with a total value of $86,300.00. Following the purchase, the chief executive officer now directly owns 204,784 shares of the company’s stock, valued at $3,534,571.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in shares of NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after buying an additional 217,902 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in shares of NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after buying an additional 202,250 shares during the period. Decheng Capital LLC purchased a new stake in shares of NewAmsterdam Pharma in the second quarter worth approximately $7,684,000. Affinity Asset Advisors LLC raised its holdings in shares of NewAmsterdam Pharma by 47.9% in the second quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company’s stock worth $8,129,000 after buying an additional 136,955 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of NewAmsterdam Pharma by 49.1% in the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after buying an additional 8,087 shares during the period. 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.