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

Key Points

• Needham lowered its price target on NewAmsterdam Pharma from $48 to $46 but maintained a Buy rating; the target implies 143.5% upside from the stock’s then-current price. Analysts’ consensus rating was Moderate Buy, with a $48.70 average target.
• The stock fell 9.7% to $18.89 in Thursday trading, near its one-year low of $18.86.
• NewAmsterdam’s third-quarter results beat estimates, and the European Commission approved obicetrapib-based medicines for the first time worldwide. The company remains loss-making, with commercialization and sales uptake still key to watch.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) had its price target lowered by stock analysts at Needham & Company LLC from $48.00 to $46.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target suggests a potential upside of 143.52% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Sunday. Royal Bank Of Canada cut their target price on NewAmsterdam Pharma from $50.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, October 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. Finally, HC Wainwright restated a "buy" rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.70.

NewAmsterdam Pharma Trading Down 9.7%

NewAmsterdam Pharma stock traded down $2.04 during mid-day trading on Thursday, hitting $18.89. The stock had a trading volume of 1,559,643 shares, compared to its average volume of 1,173,100. The firm has a market capitalization of $2.26 billion, a P/E ratio of -8.75 and a beta of 0.15. The firm's 50 day moving average is $22.43 and its 200 day moving average is $29.65. NewAmsterdam Pharma has a one year low of $18.86 and a one year high of $42.21.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.33. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The company had revenue of $19.16 million for the quarter, compared to analysts' expectations of $8.82 million. As a group, equities research analysts forecast that NewAmsterdam Pharma will post -1.82 earnings per share for the current year.

Insider Transactions at NewAmsterdam Pharma

In related news, Director John W. Smither sold 1,600 shares of the company's stock in a transaction on 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 owned 8,760 shares in the company, valued at $221,803.20. This represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael H. Davidson purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average price of $22.65 per share, with a total value of $226,500.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 176,846 shares of company stock worth $4,661,919. Insiders own 12.74% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NAMS. Bank of America Corp DE boosted its holdings in shares of NewAmsterdam Pharma by 84.4% in the first quarter. Bank of America Corp DE now owns 847,089 shares of the company's stock valued at $27,115,000 after acquiring an additional 387,698 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in NewAmsterdam Pharma by 6.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company's stock valued at $613,033,000 after purchasing an additional 1,145,128 shares during the period. Squarepoint Ops LLC lifted its position in NewAmsterdam Pharma by 113.9% in the second quarter. Squarepoint Ops LLC now owns 92,026 shares of the company's stock valued at $3,119,000 after purchasing an additional 49,005 shares during the period. Stempoint Capital LP boosted its holdings in NewAmsterdam Pharma by 147.1% in the 1st quarter. Stempoint Capital LP now owns 180,658 shares of the company's stock valued at $5,783,000 after purchasing an additional 107,552 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in NewAmsterdam Pharma by 15.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company's stock valued at $69,987,000 after purchasing an additional 292,176 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma News Summary

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 regulatory approvals of obicetrapib worldwide. This is an important step toward commercialization, though sales uptake remains to be demonstrated. Company update and Q3 results
• Positive Sentiment: Third-quarter results beat estimates: the company reported a loss of $0.14 per share versus the consensus loss of $0.47, while revenue of $19.16 million exceeded estimates of $8.82 million. Other coverage said the net loss narrowed and revenue grew. Q3 results and estimates
• Positive Sentiment: Stifel said it continues to view the investment setup as compelling and significantly skewed to the upside, reinforcing an optimistic analyst view. Stifel analyst commentary
• Negative Sentiment: Despite the quarterly improvement, NAMS remains loss-making. Investors may focus on the company’s ability to commercialize its newly approved medicines and move toward profitability.

About NewAmsterdam Pharma

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.

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