NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated at Citigroup

Stock analysts at Citigroup started coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $42.00 price target on the stock. Citigroup’s price objective would indicate a potential upside of 112.66% from the stock’s current price.

Several other analysts also recently weighed in on NAMS. Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Cantor Fitzgerald assumed coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 target price for the company. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 10th. They set a “buy” rating and a $44.00 price target on the stock. Finally, UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.89.

NewAmsterdam Pharma Stock Down 2.3%

Shares of NAMS stock opened at $19.75 on Tuesday. The business’s fifty day moving average is $18.29 and its 200 day moving average is $20.86. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -10.51 and a beta of -0.03. NewAmsterdam Pharma has a twelve month low of $14.06 and a twelve month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its 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 firm had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $1.46 million. Equities research analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper acquired 1,135 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now owns 3,013,569 shares in the company, valued at $67,775,166.81. This represents a 0.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in NewAmsterdam Pharma during the first quarter valued at about $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of NewAmsterdam Pharma in the fourth quarter worth $50,000. National Bank of Canada FI bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NewAmsterdam Pharma by 19.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock valued at $80,000 after buying an additional 596 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in NewAmsterdam Pharma by 130.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after buying an additional 3,390 shares during the period. Hedge funds and other institutional investors 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.