NewAmsterdam Pharma's (NAMS) Buy Rating Reiterated at Needham & Company LLC

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

NAMS has been the subject of several other reports. Scotiabank increased 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 assumed coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 target price for the company. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus initiated coverage on shares of NewAmsterdam Pharma in a research note on Tuesday. They issued a "buy" rating and a $44.00 price objective on the stock. Finally, UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock traded up $0.53 during trading on Thursday, reaching $21.03. The company had a trading volume of 951,977 shares, compared to its average volume of 677,321. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -11.19 and a beta of -0.03. The firm's fifty day moving average is $17.99 and its 200-day moving average is $20.86. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $1.46 million. On average, research analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James N. Topper acquired 1,135 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the acquisition, the director now directly owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.84% of the stock is currently owned by corporate insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. increased its position in shares of 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 valued at $329,903,000 after acquiring an additional 200,000 shares during the last quarter. Bain Capital Life Sciences Investors LLC lifted its stake in NewAmsterdam Pharma by 2.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock valued at $275,481,000 after acquiring an additional 245,197 shares during the last quarter. RA Capital Management L.P. lifted its stake in NewAmsterdam Pharma by 14.6% in the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock valued at $207,544,000 after acquiring an additional 1,293,938 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in NewAmsterdam Pharma by 378.4% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock valued at $110,879,000 after acquiring an additional 3,412,590 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in NewAmsterdam Pharma by 53.0% in the first 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 last quarter. Institutional investors and hedge funds 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.