NewAmsterdam Pharma (NASDAQ:NAMS) Earns Buy Rating from Analysts at Truist Financial

Stock analysts at Truist Financial assumed coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $57.00 price target on the stock. Truist Financial’s price objective points to a potential upside of 93.61% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada increased their price objective on NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Stifel Nicolaus lifted their target price on NewAmsterdam Pharma from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Guggenheim boosted their price target on NewAmsterdam Pharma from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of NewAmsterdam Pharma in a research note on Thursday, February 19th. Finally, Needham & Company LLC raised their price target on NewAmsterdam Pharma from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

NewAmsterdam Pharma Trading Down 3.8%

NASDAQ:NAMS traded down $1.16 during mid-day trading on Wednesday, hitting $29.44. The stock had a trading volume of 945,861 shares, compared to its average volume of 779,201. The company has a 50 day simple moving average of $32.96 and a 200-day simple moving average of $33.56. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -17.02 and a beta of 0.04. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results on Wednesday, February 18th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.23). NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%.The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.92 million. As a group, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Transactions at NewAmsterdam Pharma

In other news, insider Johannes Jacob Piete Kastelein sold 104,467 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $30.30, for a total value of $3,165,350.10. Following the completion of the sale, the insider owned 69,302 shares in the company, valued at $2,099,850.60. This represents a 60.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Louise Frederika Kooij sold 75,117 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $36.21, for a total value of $2,719,986.57. Following the transaction, the chief accounting officer directly owned 15,000 shares of the company’s stock, valued at $543,150. This represents a 83.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,466,933 shares of company stock valued at $48,448,017. Company insiders own 20.84% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in shares of NewAmsterdam Pharma by 42.5% during the third quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock valued at $119,407,000 after acquiring an additional 1,252,451 shares during the period. Atle Fund Management AB boosted its stake in NewAmsterdam Pharma by 23.2% in the 3rd quarter. Atle Fund Management AB now owns 193,625 shares of the company’s stock worth $5,507,000 after purchasing an additional 36,402 shares during the period. Capital World Investors boosted its stake in NewAmsterdam Pharma by 17.1% in the 3rd quarter. Capital World Investors now owns 9,822,711 shares of the company’s stock worth $279,358,000 after purchasing an additional 1,434,986 shares during the period. Keybank National Association OH purchased a new position in NewAmsterdam Pharma during the 3rd quarter worth approximately $455,000. Finally, Franklin Resources Inc. raised its stake in NewAmsterdam Pharma by 30.6% during the 2nd quarter. Franklin Resources Inc. now owns 334,212 shares of the company’s stock valued at $6,053,000 after purchasing an additional 78,300 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

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.