Scotiabank Issues Positive Forecast for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price raised by Scotiabank from $47.00 to $52.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

A number of other analysts also recently weighed in on NAMS. HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Needham & Company LLC reduced their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $21.00 on Thursday. NewAmsterdam Pharma has a fifty-two week low of $15.19 and a fifty-two week high of $27.29. The firm has a fifty day moving average price of $22.55 and a two-hundred day moving average price of $20.30.

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

Insider Transactions at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the completion of the sale, the insider now owns 10,908,502 shares in the company, valued at $284,711,902.20. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 404,927 shares of company stock valued at $10,390,787. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently made changes to their positions in NAMS. GF Fund Management CO. LTD. acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $50,000. National Bank of Canada FI acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $80,000. Quarry LP increased its position in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after acquiring an additional 6,247 shares in the last quarter. Finally, Barclays PLC increased its position in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after acquiring an additional 7,199 shares in 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.