NewAmsterdam Pharma (NASDAQ:NAMS) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $40.00 price target on the stock.

NAMS has been the subject of a number of other reports. Stifel Nicolaus initiated coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 10th. They set a "buy" rating and a $44.00 price target for the company. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price on the stock. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Scotiabank raised their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.00.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock traded down $0.82 during trading on Thursday, hitting $20.21. The company had a trading volume of 550,120 shares, compared to its average volume of 681,789. The firm has a market capitalization of $2.27 billion, a P/E ratio of -10.75 and a beta of -0.03. The stock's 50-day moving average price is $18.19 and its 200 day moving average price is $20.86. NewAmsterdam Pharma has a one year low of $14.06 and a one year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The firm had revenue of $2.98 million for the quarter, compared to the consensus estimate of $1.46 million. On average, research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other news, Director James N. Topper bought 1,135 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average price of $22.49 per share, with a total value of $25,526.15. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. 20.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at $80,000. TimesSquare Capital Management LLC raised its stake in shares of NewAmsterdam Pharma by 250.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 895,574 shares of the company's stock valued at $23,016,000 after acquiring an additional 640,329 shares in the last quarter. Handelsbanken Fonder AB bought a new position in NewAmsterdam Pharma in the 4th quarter worth approximately $4,816,000. Keybank National Association OH acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $257,000. Finally, Swiss National Bank boosted its stake in NewAmsterdam Pharma by 105.1% in the 4th quarter. Swiss National Bank now owns 72,000 shares of the company's stock valued at $1,850,000 after buying an additional 36,900 shares in the last quarter. 89.89% of the stock is 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.