NewAmsterdam Pharma (NASDAQ:NAMS) Receives Consensus Rating of “Buy” from Brokerages

NewAmsterdam Pharma (NASDAQ:NAMS) has received a consensus rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $43.33.

A number of equities research analysts have recently issued reports on the company. Scotiabank increased their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. Needham & Company LLC lowered their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Finally, UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd.

NewAmsterdam Pharma Stock Down 12.2 %

NewAmsterdam Pharma stock opened at $15.81 on Friday. The firm has a fifty day moving average of $21.13 and a 200-day moving average of $21.27. NewAmsterdam Pharma has a 52-week low of $15.19 and a 52-week high of $27.29. The firm has a market capitalization of $1.74 billion, a P/E ratio of -6.08 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $3.30 million. On average, research analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. boosted its holdings in NewAmsterdam Pharma by 23.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock worth $409,052,000 after purchasing an additional 3,061,224 shares during the period. Bain Capital Life Sciences Investors LLC boosted its holdings in shares of NewAmsterdam Pharma by 2.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock valued at $275,481,000 after buying an additional 245,197 shares during the period. RA Capital Management L.P. grew its position in shares of NewAmsterdam Pharma by 9.7% during 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 buying an additional 781,000 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake in NewAmsterdam Pharma by 378.4% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after acquiring an additional 3,412,590 shares during the period. Finally, Jennison Associates LLC lifted its holdings in NewAmsterdam Pharma by 291.9% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

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.