Stifel Nicolaus Initiates Coverage on NewAmsterdam Pharma (NASDAQ:NAMS)

Research analysts at Stifel Nicolaus began coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $44.00 price target on the stock. Stifel Nicolaus' price target would suggest a potential upside of 117.71% from the company's current price.

Other research analysts have also recently issued reports about the company. Scotiabank boosted their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 27th. Cantor Fitzgerald initiated 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 on the stock. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Friday, May 30th. UBS Group set a $41.00 price target on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Finally, Needham & Company LLC dropped their price objective on NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, NewAmsterdam Pharma has a consensus rating of "Moderate Buy" and an average target price of $43.00.

NewAmsterdam Pharma Price Performance

Shares of NAMS stock traded down $0.82 during trading on Tuesday, reaching $20.21. The company's stock had a trading volume of 550,120 shares, compared to its average volume of 679,365. NewAmsterdam Pharma has a 1-year low of $14.06 and a 1-year high of $27.29. The stock's 50-day moving average price is $18.19 and its 200 day moving average price is $20.86. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -10.75 and a beta of -0.03.

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

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper acquired 1,135 shares of the stock in a transaction on Wednesday, March 26th. The shares were bought at an average cost of $22.49 per share, with a total value of $25,526.15. Following the transaction, the director now owns 3,013,569 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Insiders own 20.84% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its stake in NewAmsterdam Pharma by 24.8% during the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company's stock valued at $590,000 after acquiring an additional 4,556 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of NewAmsterdam Pharma in the fourth quarter valued at approximately $8,907,000. Swiss National Bank increased its holdings in shares of NewAmsterdam Pharma by 105.1% in the fourth quarter. Swiss National Bank now owns 72,000 shares of the company's stock valued at $1,850,000 after purchasing an additional 36,900 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth approximately $80,000. Finally, Northern Trust Corp acquired a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth $556,000. Institutional investors and hedge funds own 89.89% of the company's stock.

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.