NewAmsterdam Pharma (NASDAQ:NAMS) Stock Rating Lowered by Wall Street Zen

NewAmsterdam Pharma (NASDAQ:NAMS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently commented on NAMS. HC Wainwright reissued a “buy” rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Thursday, October 15th. Royal Bank Of Canada cut their price objective on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.90.

NewAmsterdam Pharma Stock Performance

NAMS opened at $19.71 on Friday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -9.12 and a beta of 0.10. NewAmsterdam Pharma has a 1 year low of $19.13 and a 1 year high of $42.21. The stock has a fifty day moving average price of $23.54 and a 200 day moving average price of $29.18.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The firm had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $2.83 million. As a group, sell-side analysts forecast that NewAmsterdam Pharma will post -1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, Director John W. Smither sold 1,600 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the sale, the director owned 8,760 shares in the company, valued at approximately $221,803.20. This represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Johannes Kastelein sold 125,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $26.91, for a total value of $3,363,750.00. Following the sale, the insider owned 69,302 shares of the company’s stock, valued at approximately $1,864,916.82. This trade represents a 64.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 176,846 shares of company stock worth $4,661,919 over the last three months. Corporate insiders own 12.74% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in NewAmsterdam Pharma in the 1st quarter worth approximately $37,000. AdvisorNet Financial Inc acquired a new position in NewAmsterdam Pharma during the first quarter valued at approximately $82,000. PNC Financial Services Group Inc. grew its holdings in NewAmsterdam Pharma by 147.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock valued at $292,000 after purchasing an additional 5,437 shares during the last quarter. AlphaCentric Advisors LLC raised its position in shares of NewAmsterdam Pharma by 6.7% in the first quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock valued at $469,000 after purchasing an additional 925 shares during the period. Finally, Arizona State Retirement System raised its position in shares of NewAmsterdam Pharma by 34.6% in the second quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock valued at $564,000 after purchasing an additional 4,281 shares during the period. 89.89% of the stock is owned by institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.