Royal Bank Of Canada Cuts NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $50.00

NewAmsterdam Pharma (NASDAQ:NAMSGet Free Report) had its price target reduced by equities researchers at Royal Bank Of Canada from $51.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 80.96% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. Finally, Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Read Our Latest Stock Analysis on NewAmsterdam Pharma

NewAmsterdam Pharma Trading Up 0.8%

NAMS stock traded up $0.21 during mid-day trading on Thursday, reaching $27.63. 736,123 shares of the stock traded hands, compared to its average volume of 1,027,621. The stock’s fifty day moving average is $31.64 and its 200-day moving average is $32.56. The company has a market cap of $3.23 billion, a P/E ratio of -15.42 and a beta of 0.10. NewAmsterdam Pharma has a 52-week low of $22.26 and a 52-week high of $42.21.

NewAmsterdam Pharma (NASDAQ:NAMSGet Free Report) last posted its quarterly 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 business had revenue of $3.70 million for the quarter, compared to analyst estimates of $1.88 million. NewAmsterdam Pharma had a negative net margin of 943.23% and a negative return on equity of 26.49%. Equities research analysts expect that NewAmsterdam Pharma will post -1.78 earnings per share for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 105,000 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $30.34, for a total value of $3,185,700.00. Following the sale, the chief accounting officer owned 24,353 shares of the company’s stock, valued at $738,870.02. The trade was a 81.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 210,000 shares of company stock worth $6,713,550. 12.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in NewAmsterdam Pharma during the first quarter worth about $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NewAmsterdam Pharma by 13.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company’s stock valued at $5,898,000 after acquiring an additional 34,563 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NewAmsterdam Pharma by 15.9% in the 2nd quarter. Geode Capital Management LLC now owns 99,457 shares of the company’s stock worth $1,800,000 after acquiring an additional 13,629 shares in the last quarter. Legal & General Group Plc grew its position in NewAmsterdam Pharma by 33.5% during the 2nd quarter. Legal & General Group Plc now owns 44,235 shares of the company’s stock worth $801,000 after acquiring an additional 11,106 shares during the last quarter. Finally, Invesco Ltd. grew its position in NewAmsterdam Pharma by 12.7% during the 2nd quarter. Invesco Ltd. now owns 134,035 shares of the company’s stock worth $2,427,000 after acquiring an additional 15,101 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

(Get Free Report)

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.

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