Royal Bank Of Canada Cuts NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $42.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective reduced by Royal Bank Of Canada from $50.00 to $42.00 in a research note released on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts also recently commented on NAMS. 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 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Friday, July 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

NewAmsterdam Pharma Price Performance

NAMS opened at $22.13 on Monday. The business has a fifty day simple moving average of $25.18 and a 200 day simple moving average of $30.07. NewAmsterdam Pharma has a 1 year low of $21.02 and a 1 year high of $42.21. The company has a market capitalization of $2.65 billion, a PE ratio of -10.25 and a beta of 0.10.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%.The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $2.83 million. Equities analysts anticipate that NewAmsterdam Pharma will post -1.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Davidson bought 10,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $22.65 per share, for a total transaction of $226,500.00. Following the transaction, the chief executive officer owned 792,923 shares of the company’s stock, valued at $17,959,705.95. This represents a 1.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Smither sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the sale, the director directly owned 8,760 shares of the company’s stock, valued at approximately $221,803.20. This trade represents a 15.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 281,846 shares of company stock valued at $7,847,619 over the last quarter. 12.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at $37,000. AdvisorNet Financial Inc acquired a new position in shares of NewAmsterdam Pharma during the 1st quarter worth $82,000. Seven Fleet Capital Management LP bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth $140,000. PNC Financial Services Group Inc. lifted its position in shares of NewAmsterdam Pharma by 147.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock worth $292,000 after buying an additional 5,437 shares during the last quarter. Finally, AlphaCentric Advisors LLC boosted its stake in 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 buying an additional 925 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

NewAmsterdam Pharma is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, with an emphasis on improving the treatment of dyslipidemia and reducing cardiovascular risk. The company’s lead investigational product is obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor designed to lower low-density lipoprotein cholesterol and potentially address other lipid-related abnormalities.

Obicetrapib is being studied as an adjunct to existing lipid-lowering therapies, including in patients who have not achieved adequate cholesterol control and people with heterozygous familial hypercholesterolemia.