NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) had its target price decreased by equities researchers at Royal Bank Of Canada from $50.00 to $42.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 88.59% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $52.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. BMO Capital Markets began coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a research 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.00.
Read Our Latest Stock Analysis on NewAmsterdam Pharma
NewAmsterdam Pharma Stock Performance
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). NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%.The company had revenue of $3.70 million during the quarter, compared to analyst estimates of $2.83 million. On average, analysts forecast that NewAmsterdam Pharma will post -1.82 EPS for the current fiscal year.
Insider Activity at NewAmsterdam Pharma
In related news, CAO Louise Kooij sold 105,000 shares of NewAmsterdam Pharma stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the sale, the chief accounting officer directly owned 24,353 shares of the company’s stock, valued at $738,870.02. This trade represents a 81.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael H. Davidson purchased 10,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the purchase, the chief executive officer directly owned 792,923 shares of the company’s stock, valued at approximately $17,959,705.95. This trade represents a 1.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 281,846 shares of company stock valued at $7,847,619. Company insiders own 12.74% of the company’s stock.
Institutional Trading of NewAmsterdam Pharma
Institutional investors have recently modified their holdings of the company. KBC Group NV bought a new stake in shares of NewAmsterdam Pharma during the first quarter valued at approximately $37,000. AdvisorNet Financial Inc bought a new position in NewAmsterdam Pharma in the first quarter worth $82,000. Seven Fleet Capital Management LP acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth $140,000. PNC Financial Services Group Inc. boosted its stake 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 worth $292,000 after buying an additional 5,437 shares in the last quarter. Finally, AlphaCentric Advisors LLC increased its holdings in NewAmsterdam Pharma by 6.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock valued at $469,000 after buying an additional 925 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.
NewAmsterdam Pharma Company Profile
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.
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