NewAmsterdam Pharma (NASDAQ:NAMS) Given New $46.00 Price Target at Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price reduced by Needham & Company LLC from $48.00 to $46.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on NAMS. HC Wainwright reiterated a “buy” rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Jefferies Financial Group reissued 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 assumed coverage on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 price target on the stock. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Finally, Royal Bank Of Canada lowered their price target on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.70.

NewAmsterdam Pharma Stock Down 9.7%

NewAmsterdam Pharma stock opened at $18.89 on Thursday. The stock has a market capitalization of $2.26 billion, a PE ratio of -11.18 and a beta of 0.15. NewAmsterdam Pharma has a twelve month low of $18.86 and a twelve month high of $42.21. The company has a 50 day moving average of $22.26 and a 200-day moving average of $29.59.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.33. The company had revenue of $19.16 million for the quarter, compared to analyst estimates of $8.82 million. NewAmsterdam Pharma had a negative return on equity of 31.04% and a negative net margin of 789.95%. Equities analysts anticipate that NewAmsterdam Pharma will post -1.82 EPS for the current fiscal year.

Insider Activity

In other NewAmsterdam Pharma news, CEO Michael H. Davidson bought 10,000 shares of NewAmsterdam Pharma stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $22.65 per share, with a total value of $226,500.00. Following the acquisition, the chief executive officer owned 792,923 shares in the company, valued at $17,959,705.95. This trade represents a 1.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Smither sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $25.32, for a total value of $40,512.00. Following the completion of the sale, the director directly owned 8,760 shares in the company, valued at $221,803.20. This trade represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 176,846 shares of company stock worth $4,661,919. 12.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in NewAmsterdam Pharma in the first quarter valued at approximately $37,000. Parallel Advisors LLC grew its position in NewAmsterdam Pharma by 43.7% during the 3rd quarter. Parallel Advisors LLC now owns 2,012 shares of the company’s stock worth $49,000 after acquiring an additional 612 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in NewAmsterdam Pharma in the 3rd quarter worth about $149,000. PNC Financial Services Group Inc. increased its stake in shares of NewAmsterdam Pharma by 147.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock valued at $292,000 after buying an additional 5,437 shares during the period. Finally, CenterBook Partners LP bought a new position in NewAmsterdam Pharma in the 3rd quarter valued at approximately $290,000. 89.89% of the stock is owned by institutional investors.

Key Headlines Impacting NewAmsterdam Pharma

Here are the key news stories impacting NewAmsterdam Pharma this week:

• Positive Sentiment: The European Commission approved Ubeslo® (obicetrapib) and Evlarco® (obicetrapib plus ezetimibe), the first worldwide regulatory approvals for obicetrapib. The approvals are an important step toward potential commercialization. Company update and results
• Positive Sentiment: Third-quarter results beat estimates: the company reported a loss of $0.14 per share versus the expected $0.47 loss, while revenue of $19.16 million exceeded the $8.82 million consensus. Q3 results
• Positive Sentiment: Stifel described the investment setup as compelling and significantly tilted toward upside, supporting the bullish analyst view. Stifel analyst comments
• Neutral Sentiment: Needham lowered its price target from $48 to $46 but maintained a Buy rating. The cut is modest relative to the target, which still implies substantial upside from the reference price in the report.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.