NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) Given Consensus Recommendation of "Buy" by Brokerages

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) has been given a consensus recommendation of "Buy" by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $42.89.

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Citigroup began coverage on NewAmsterdam Pharma in a research report on Tuesday. They set a "buy" rating and a $42.00 price objective for the company. Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 price target for the company. Stifel Nicolaus began coverage on NewAmsterdam Pharma in a report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 price target for the company. Finally, Scotiabank raised their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Thursday, February 27th.

NewAmsterdam Pharma Stock Down 1.3%

NewAmsterdam Pharma stock traded down $0.24 during mid-day trading on Thursday, reaching $17.96. 1,005,901 shares of the company were exchanged, compared to its average volume of 697,413. NewAmsterdam Pharma has a twelve month low of $14.06 and a twelve month high of $27.29. The firm's 50-day simple moving average is $18.45 and its two-hundred day simple moving average is $20.81.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 37.34% and a negative net margin of 397.45%. The company had revenue of $2.98 million for the quarter, compared to analyst estimates of $1.46 million. As a group, research analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James N. Topper acquired 1,135 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now owns 3,013,569 shares in the company, valued at $67,775,166.81. This trade represents a 0.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of NewAmsterdam Pharma stock in a transaction on Monday, June 16th. The stock was sold at an average price of $19.29, for a total value of $1,929,000.00. Following the transaction, the chief operating officer now directly owns 44,000 shares of the company's stock, valued at approximately $848,760. This represents a 69.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds have recently bought and sold shares of NAMS. Deerfield Management Company L.P. Series C increased its position in NewAmsterdam Pharma by 378.4% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock worth $110,879,000 after buying an additional 3,412,590 shares in the last quarter. Frazier Life Sciences Management L.P. increased its position in NewAmsterdam Pharma by 23.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock worth $409,052,000 after buying an additional 3,061,224 shares in the last quarter. Wellington Management Group LLP increased its position in NewAmsterdam Pharma by 2,410.4% during the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after buying an additional 2,222,900 shares in the last quarter. Capital International Investors purchased a new position in NewAmsterdam Pharma during the fourth quarter worth $53,007,000. Finally, Alliancebernstein L.P. purchased a new position in NewAmsterdam Pharma during the fourth quarter worth $47,752,000. Hedge funds and other institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Company Profile

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.