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

Key Points

• Wall Street Zen upgraded NewAmsterdam Pharma from “sell” to “hold,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $48.90.
• Shares opened at $20.06, near the company’s one-year low of $19.13 and below its 50-day and 200-day moving averages. The company reported a quarterly EPS loss of $0.52, missing estimates, despite revenue exceeding expectations.
• Insiders sold 176,846 shares worth approximately $4.66 million over the past 90 days, while institutional investors own 89.89% of the stock. NewAmsterdam is developing obicetrapib, an investigational treatment for cardiometabolic diseases and cholesterol management.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

A number of other brokerages have also recently commented on NAMS. HC Wainwright reissued a "buy" rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. BMO Capital Markets initiated coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They set an "outperform" rating and a $58.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Thursday, October 15th. Jefferies Financial Group reiterated a "buy" rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. Finally, Royal Bank Of Canada dropped their target price on NewAmsterdam Pharma from $50.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.90.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS opened at $20.06 on Friday. The firm's 50-day moving average price is $22.86 and its 200-day moving average price is $29.83. The company has a market capitalization of $2.40 billion, a PE ratio of -9.29 and a beta of 0.10. NewAmsterdam Pharma has a 1-year low of $19.13 and a 1-year high of $42.21.

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

Insider Activity

In related news, insider Johannes Kastelein sold 50,246 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.03, for a total value of $1,257,657.38. Following the transaction, the insider directly owned 69,302 shares of the company's stock, valued at approximately $1,734,629.06. This represents a 42.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Smither sold 1,600 shares of the 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 sale, the director owned 8,760 shares in the company, valued at approximately $221,803.20. This represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 176,846 shares of company stock worth $4,661,919 over the last 90 days. 12.74% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NewAmsterdam Pharma in the third quarter worth approximately $149,000. Engineers Gate Manager LP bought a new position in NewAmsterdam Pharma during the second quarter valued at approximately $662,000. Squarepoint Ops LLC boosted its holdings in NewAmsterdam Pharma by 113.9% in the second quarter. Squarepoint Ops LLC now owns 92,026 shares of the company's stock worth $3,119,000 after purchasing an additional 49,005 shares during the last quarter. Arizona State Retirement System boosted its holdings in NewAmsterdam Pharma by 34.6% in the second quarter. Arizona State Retirement System now owns 16,656 shares of the company's stock worth $564,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its position in NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company's stock worth $613,033,000 after purchasing an additional 1,145,128 shares during the period. Institutional investors own 89.89% of the company's stock.

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.

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