NewAmsterdam Pharma (NASDAQ:NAMS) Rating Increased to Hold at Wall Street Zen

NewAmsterdam Pharma (NASDAQ:NAMS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald initiated coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, June 4th. They set an “overweight” rating and a $42.00 price target on the stock. Citigroup initiated coverage on NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a “buy” rating and a $42.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Finally, Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a research report on Tuesday, June 10th. They set a “buy” rating and a $44.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.89.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock opened at $19.85 on Friday. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29. The firm has a market capitalization of $2.23 billion, a PE ratio of -10.56 and a beta of -0.03. The stock has a fifty day moving average of $18.92 and a two-hundred day moving average of $20.46.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data 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). The company had revenue of $2.98 million for the quarter, compared to the consensus estimate of $1.46 million. NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. Equities research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Douglas F. Kling sold 100,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the completion of the sale, the chief operating officer owned 44,000 shares in the company, valued at approximately $848,760. This represents a 69.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James N. Topper acquired 2,520 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, June 24th. The shares were bought at an average cost of $18.43 per share, with a total value of $46,443.60. Following the completion of the purchase, the director owned 3,024,873 shares in the company, valued at approximately $55,748,409.39. This represents a 0.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 12,364 shares of company stock valued at $236,839 over the last 90 days. 20.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at $25,000. GF Fund Management CO. LTD. purchased a new stake in NewAmsterdam Pharma during the fourth quarter valued at about $50,000. National Bank of Canada FI acquired a new position in shares of NewAmsterdam Pharma in the fourth quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock worth $80,000 after buying an additional 596 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NewAmsterdam Pharma by 130.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after acquiring an additional 3,390 shares in the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

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.