NewAmsterdam Pharma (NASDAQ:NAMS) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of NewAmsterdam Pharma (NASDAQ:NAMS) from a sell rating to a hold rating in a research report report published on Friday morning.

A number of other brokerages have also weighed in on NAMS. Scotiabank raised their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. UBS Group set a $41.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Finally, Needham & Company LLC decreased their price target on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

NewAmsterdam Pharma Stock Up 2.7%

NASDAQ:NAMS opened at $18.11 on Friday. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29. The stock has a market capitalization of $2.03 billion, a PE ratio of -9.63 and a beta of 0.01. The stock’s 50-day moving average price is $17.96 and its 200-day moving average price is $20.97.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The company had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $1.46 million. Sell-side analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the transaction, the chief accounting officer now directly owns 15,000 shares of the company’s stock, valued at $305,550. This trade represents a 90.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James N. Topper bought 1,135 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the purchase, the director now directly owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This represents a 0.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 20.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in NewAmsterdam Pharma in the 1st quarter worth approximately $25,000. GF Fund Management CO. LTD. purchased a new position in NewAmsterdam Pharma in the 4th quarter worth approximately $50,000. National Bank of Canada FI purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $80,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock valued at $123,000 after buying an additional 3,390 shares during the period. 89.89% of the stock is 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.