NewAmsterdam Pharma (NASDAQ:NAMS) Price Target Cut to $50.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut NewAmsterdam Pharma’s price target to $50 from $51 while maintaining an “outperform” rating, implying roughly 81% upside from the previous close.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average target price of $49.33.
• NewAmsterdam reported a quarterly loss of $0.52 per share, missing estimates by $0.04, although revenue of $3.70 million exceeded expectations. Shares traded at $27.63, while insiders have sold $6.7 million of stock over the past 90 days.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) had its price objective cut by Royal Bank Of Canada from $51.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 80.96% from the stock's previous close.

Several other equities analysts also recently weighed in on NAMS. BMO Capital Markets began coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They set an "outperform" rating and a $58.00 target price on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NewAmsterdam Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $49.33.

NewAmsterdam Pharma Stock Performance

NAMS stock traded up $0.21 during trading on Thursday, hitting $27.63. The stock had a trading volume of 736,123 shares, compared to its average volume of 1,027,621. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -15.42 and a beta of 0.10. NewAmsterdam Pharma has a 1-year low of $22.26 and a 1-year high of $42.21. The company's 50 day moving average price is $31.64 and its two-hundred day moving average price is $32.56.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The firm had revenue of $3.70 million for the quarter, compared to analysts' expectations of $1.88 million. NewAmsterdam Pharma had a negative net margin of 943.23% and a negative return on equity of 26.49%. As a group, sell-side analysts forecast that NewAmsterdam Pharma will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 105,000 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $30.34, for a total value of $3,185,700.00. Following the completion of the transaction, the chief accounting officer owned 24,353 shares in the company, valued at approximately $738,870.02. This represents a 81.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 210,000 shares of company stock worth $6,713,550. Insiders own 12.74% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of NewAmsterdam Pharma during the 1st quarter valued at $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NewAmsterdam Pharma by 13.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company's stock worth $5,898,000 after acquiring an additional 34,563 shares during the period. Geode Capital Management LLC raised its position in NewAmsterdam Pharma by 15.9% in the second quarter. Geode Capital Management LLC now owns 99,457 shares of the company's stock worth $1,800,000 after acquiring an additional 13,629 shares in the last quarter. Legal & General Group Plc boosted its position in shares of NewAmsterdam Pharma by 33.5% during the 2nd quarter. Legal & General Group Plc now owns 44,235 shares of the company's stock valued at $801,000 after purchasing an additional 11,106 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of NewAmsterdam Pharma by 12.7% in the 2nd quarter. Invesco Ltd. now owns 134,035 shares of the company's stock worth $2,427,000 after purchasing an additional 15,101 shares during the last quarter. Institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.

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