NewAmsterdam Pharma (NASDAQ:NAMS) Receives $36.20 Average Price Target from Analysts

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have been assigned an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.20.

NAMS has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Finally, Scotiabank raised their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th.

Insider Transactions at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the sale, the insider now owns 11,150,461 shares of the company’s stock, valued at $283,110,204.79. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 428,446 shares of company stock worth $10,514,105. Company insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its stake in NewAmsterdam Pharma by 5.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after acquiring an additional 628,251 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of NewAmsterdam Pharma by 51.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after purchasing an additional 520,772 shares during the last quarter. Millennium Management LLC raised its holdings in shares of NewAmsterdam Pharma by 23.0% during the 2nd 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 in the last quarter. Jennison Associates LLC lifted its position in shares of NewAmsterdam Pharma by 8.9% during the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock worth $16,937,000 after buying an additional 83,115 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its stake in 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 valued at $16,698,000 after buying an additional 202,250 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Trading Down 1.4 %

NAMS opened at $25.86 on Thursday. The business’s 50-day simple moving average is $21.99 and its 200 day simple moving average is $19.17. NewAmsterdam Pharma has a 52-week low of $10.50 and a 52-week high of $27.29.

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.