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

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on NAMS. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, October 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Royal Bank Of Canada reduced their price target on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. HC Wainwright reiterated a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Finally, BMO Capital Markets began coverage on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given 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, NewAmsterdam Pharma presently has an average rating of “Moderate Buy” and an average price target of $48.90.

Read Our Latest Report on NewAmsterdam Pharma

NewAmsterdam Pharma Stock Performance

NAMS opened at $19.56 on Friday. The business’s 50-day simple moving average is $22.69 and its 200-day simple moving average is $29.77. NewAmsterdam Pharma has a one year low of $19.13 and a one year high of $42.21. The stock has a market capitalization of $2.34 billion, a P/E ratio of -9.06 and a beta of 0.10.

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) last posted its earnings results 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). The firm had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $2.83 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. On average, equities research analysts forecast that NewAmsterdam Pharma will post -1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, insider Johannes Kastelein sold 50,246 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.03, for a total value of $1,257,657.38. Following the transaction, the insider directly owned 69,302 shares in the company, valued at approximately $1,734,629.06. This trade represents a 42.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Smither sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $25.32, for a total value of $40,512.00. Following the completion of the transaction, the director directly owned 8,760 shares in the company, valued at approximately $221,803.20. The trade was a 15.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 176,846 shares of company stock valued at $4,661,919. 12.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. raised its position in NewAmsterdam Pharma by 6.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after buying an additional 1,145,128 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of NewAmsterdam Pharma by 15.4% in the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after acquiring an additional 292,176 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of NewAmsterdam Pharma by 84.4% in the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after acquiring an additional 387,698 shares in the last quarter. SEB Asset Management AB acquired a new position in shares of NewAmsterdam Pharma during the first quarter worth about $8,728,000. Finally, Stempoint Capital LP increased its stake in shares of NewAmsterdam Pharma by 147.1% during the first quarter. Stempoint Capital LP now owns 180,658 shares of the company’s stock worth $5,783,000 after acquiring an additional 107,552 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

About NewAmsterdam Pharma

(Get Free Report)

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.

Further Reading

Analyst Recommendations for NewAmsterdam Pharma (NASDAQ:NAMS)

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