NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note released on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $42.00 price target on the stock.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. UBS Group set a $41.00 target price on NewAmsterdam Pharma in a research note on Monday, March 3rd. Finally, Scotiabank upped their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.89.

NewAmsterdam Pharma Stock Performance

NASDAQ:NAMS opened at $18.20 on Tuesday. The stock’s 50-day simple moving average is $18.45 and its 200 day simple moving average is $20.81. The company has a market cap of $2.04 billion, a P/E ratio of -9.68 and a beta of -0.03. NewAmsterdam Pharma has a 52-week low of $14.06 and a 52-week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 37.34% and a negative net margin of 397.45%. The business had revenue of $2.98 million for the quarter, compared to analyst estimates of $1.46 million. As a group, equities analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James N. Topper purchased 1,135 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the purchase, the director now owns 3,013,569 shares of the company’s stock, valued at $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $19.29, for a total value of $1,929,000.00. Following the completion of the transaction, the chief operating officer now owns 44,000 shares of the company’s stock, valued at approximately $848,760. This represents a 69.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 20.84% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of NewAmsterdam Pharma by 24.8% during the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock valued at $590,000 after acquiring an additional 4,556 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of NewAmsterdam Pharma during the 4th quarter valued at about $8,907,000. Swiss National Bank increased its stake in NewAmsterdam Pharma by 105.1% in the 4th quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,850,000 after purchasing an additional 36,900 shares during the period. Northern Trust Corp purchased a new position in NewAmsterdam Pharma in the 4th quarter worth approximately $556,000. Finally, Barclays PLC increased its stake in NewAmsterdam Pharma by 120.0% in the 4th quarter. Barclays PLC now owns 16,713 shares of the company’s stock worth $429,000 after purchasing an additional 9,117 shares during the period. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.