NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month High - Here's Why

Key Points

• NewAmsterdam Pharma shares reached a new 52-week high of $34.71, rising 5.6% with a trading volume of 540,756 shares.
• Multiple analysts have set new price targets for NewAmsterdam Pharma, with a consensus target price of $42.00 and notable ratings including a "buy" from Citigroup and an "overweight" from Wells Fargo.
• The company reported a quarterly earnings surprise, posting earnings per share of ($0.15), significantly beating analyst estimates and generating $19.15 million in revenue compared to an expected $1.44 million.

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $34.64 and last traded at $34.71, with a volume of 540756 shares. The stock had previously closed at $33.01.

Analysts Set New Price Targets

NAMS has been the subject of several recent research reports. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NewAmsterdam Pharma in a report on Wednesday. The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma in a research note on Thursday, July 17th. They issued a "neutral" rating and a $27.00 price objective on the stock. Citigroup started coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of NewAmsterdam Pharma in a research note on Monday, August 25th. They issued an "overweight" rating and a $45.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

NewAmsterdam Pharma Trading Up 5.6%

The firm has a fifty day moving average price of $26.05 and a 200 day moving average price of $21.54. The firm has a market cap of $3.93 billion, a PE ratio of -21.49 and a beta of 0.02.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.52) by $0.37. The business had revenue of $19.15 million during the quarter, compared to the consensus estimate of $1.44 million. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%. As a group, equities analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $25.83, for a total transaction of $3,874,500.00. Following the sale, the chief accounting officer directly owned 15,000 shares in the company, valued at $387,450. The trade was a 90.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James N. Topper bought 1,260 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $24.99 per share, with a total value of $31,487.40. Following the transaction, the director owned 3,027,864 shares in the company, valued at approximately $75,666,321.36. This represents a 0.04% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,391 shares of company stock worth $58,424 and sold 324,954 shares worth $7,844,906. Insiders own 20.84% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of NewAmsterdam Pharma by 2.4% during the second quarter. China Universal Asset Management Co. Ltd. now owns 22,549 shares of the company's stock valued at $408,000 after buying an additional 521 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in NewAmsterdam Pharma by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company's stock valued at $197,000 after buying an additional 544 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NewAmsterdam Pharma by 19.4% in the 1st 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 during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of NewAmsterdam Pharma in the 3rd quarter valued at about $30,000. Finally, Quarry LP acquired a new position in NewAmsterdam Pharma during the first quarter valued at approximately $25,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.

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