NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $42.00 price objective on the stock.

Several other analysts have also issued reports on the stock. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Scotiabank raised their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 27th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research report on Monday, March 3rd. Finally, Needham & Company LLC dropped their price objective on NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $42.86.

NewAmsterdam Pharma Price Performance

NAMS stock traded up $0.12 during midday trading on Wednesday, reaching $19.51. The company had a trading volume of 1,080,203 shares, compared to its average volume of 655,545. The firm has a 50-day moving average price of $17.76 and a 200-day moving average price of $20.91. The company has a market capitalization of $2.19 billion, a P/E ratio of -10.38 and a beta of 0.01. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). The company had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. On average, equities analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, Director James N. Topper bought 1,135 shares of NewAmsterdam Pharma stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the purchase, the director now owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. This represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 20.84% of the company's stock.

Institutional Trading of NewAmsterdam Pharma

Several large investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. lifted its holdings in NewAmsterdam Pharma by 1.3% in the first quarter. Frazier Life Sciences Management L.P. now owns 16,116,418 shares of the company's stock worth $329,903,000 after buying an additional 200,000 shares during the period. Bain Capital Life Sciences Investors LLC grew its position in shares of NewAmsterdam Pharma by 2.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock worth $275,481,000 after buying an additional 245,197 shares during the period. RA Capital Management L.P. increased its stake in shares of NewAmsterdam Pharma by 14.6% in the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock worth $207,544,000 after acquiring an additional 1,293,938 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of NewAmsterdam Pharma by 378.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock worth $110,879,000 after acquiring an additional 3,412,590 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in NewAmsterdam Pharma by 53.0% during the 1st quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company's stock valued at $72,504,000 after acquiring an additional 1,226,852 shares during the period. Institutional investors own 89.89% of the company's stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.