NewAmsterdam Pharma (NASDAQ:NAMS) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright reiterated a “Buy” rating on NewAmsterdam Pharma and set a $52 price target, implying approximately 105% upside from the stock’s $25.40 opening price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $49.73, although one analyst maintains a “Sell” rating.
• NewAmsterdam reported a quarterly loss of $0.52 per share, missing estimates, while revenue of $3.70 million exceeded expectations. Insiders have sold 270,000 shares worth about $7.8 million over the past 90 days.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $52.00 price objective on the stock. HC Wainwright's price objective would indicate a potential upside of 104.72% from the company's current price.

Other research analysts have also issued reports about the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an "outperform" rating and a $58.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. Finally, Royal Bank Of Canada decreased their price target on NewAmsterdam Pharma from $51.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.73.

NewAmsterdam Pharma Stock Performance

NASDAQ NAMS opened at $25.40 on Tuesday. The stock has a 50 day moving average price of $29.51 and a 200-day moving average price of $31.53. NewAmsterdam Pharma has a one year low of $23.05 and a one year high of $42.21. The company has a market capitalization of $3.04 billion, a P/E ratio of -11.76 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $2.83 million. As a group, equities analysts predict that NewAmsterdam Pharma will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Kooij sold 105,000 shares of the stock in a transaction on 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 transaction, the chief accounting officer owned 24,353 shares of the company's stock, valued at approximately $738,870.02. This represents a 81.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johannes Kastelein sold 125,000 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $26.91, for a total value of $3,363,750.00. Following the transaction, the insider owned 69,302 shares in the company, valued at approximately $1,864,916.82. This represents a 64.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 270,000 shares of company stock worth $7,757,450 over the last 90 days. 12.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NAMS. Wells Fargo & Company MN boosted its stake in shares of NewAmsterdam Pharma by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 900 shares of the company's stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NewAmsterdam Pharma by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 102,395 shares of the company's stock worth $3,590,000 after buying an additional 437 shares during the period. The Manufacturers Life Insurance Company boosted its position in NewAmsterdam Pharma by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company's stock valued at $197,000 after acquiring an additional 544 shares in the last quarter. AlphaCentric Advisors LLC increased its holdings in shares of 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 acquiring an additional 925 shares during the period. Finally, KBC Group NV bought a new position in shares of NewAmsterdam Pharma in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 89.89% of the company's stock.

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.

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