NewAmsterdam Pharma (NASDAQ:NAMS) Rating Lowered to Sell at Wall Street Zen

Wall Street Zen lowered shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

A number of other research analysts have also issued reports on NAMS. Scotiabank raised their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 27th. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price for the company. Stifel Nicolaus began coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 10th. They set a "buy" rating and a $44.00 price target for the company. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a report on Monday, March 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $42.89.

NewAmsterdam Pharma Trading Down 1.3%

NASDAQ NAMS traded down $0.24 during trading on Friday, hitting $17.96. 1,005,901 shares of the company traded hands, compared to its average volume of 699,446. NewAmsterdam Pharma has a 12 month low of $14.06 and a 12 month high of $27.29. The business has a fifty day simple moving average of $18.51 and a 200 day simple moving average of $20.82. The company has a market capitalization of $2.02 billion, a P/E ratio of -9.55 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued 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). The company had revenue of $2.98 million during the quarter, compared to the consensus estimate of $1.46 million. NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. Equities research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

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

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after purchasing an additional 596 shares in the last quarter. Quarry LP acquired a new stake in NewAmsterdam Pharma during the 1st quarter valued at $25,000. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $50,000. National Bank of Canada FI bought a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth approximately $51,000. Finally, Geode Capital Management LLC boosted its stake in NewAmsterdam Pharma by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 88,544 shares of the company's stock valued at $2,276,000 after purchasing an additional 2,222 shares during the period. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.