Analysts Set NewAmsterdam Pharma (NASDAQ:NAMS) Target Price at $33.80

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have received an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $33.80.

NAMS has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Needham & Company LLC began coverage on NewAmsterdam Pharma in a research report on Wednesday, August 28th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd.

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.50% of the stock is owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

Several large investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after buying an additional 217,902 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of NewAmsterdam Pharma during the first quarter valued at about $22,015,000. Deerfield Management Company L.P. Series C boosted its stake in shares of NewAmsterdam Pharma by 30.3% during 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 purchasing an additional 202,250 shares in the last quarter. Artal Group S.A. acquired a new stake in shares of NewAmsterdam Pharma during the first quarter valued at about $18,920,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of NewAmsterdam Pharma during the first quarter valued at about $15,018,000. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Stock Performance

NAMS opened at $19.16 on Friday. NewAmsterdam Pharma has a 1-year low of $5.63 and a 1-year high of $26.35. The stock’s fifty day simple moving average is $16.58 and its 200 day simple moving average is $18.63.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million during the quarter, compared to the consensus estimate of $2.20 million. As a group, research analysts expect that NewAmsterdam Pharma will post -2.06 earnings per share for the current fiscal year.

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.