NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 1-Year High - Here's What Happened

Key Points

• NewAmsterdam Pharma reached a new 52-week high with stock trading at $27.55 on Friday, up from a previous close of $26.29.
• A consensus rating of "Moderate Buy" is held by analysts, with price targets ranging from $39.00 to $44.00, indicating strong investor confidence.
• The company's recent quarterly earnings showed a significant revenue increase of $19.15 million, surpassing expectations of $1.44 million.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $27.55 and last traded at $27.45, with a volume of 267382 shares changing hands. The stock had previously closed at $26.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a report on Tuesday, June 10th. They set a "buy" rating and a $44.00 price objective for the company. Citigroup assumed coverage on NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price objective for the company. Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a report on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Finally, Royal Bank Of Canada upped their price target on NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

NewAmsterdam Pharma Stock Up 8.4%

The company has a 50-day simple moving average of $24.52 and a two-hundred day simple moving average of $21.06. The firm has a market cap of $3.21 billion, a PE ratio of -17.59 and a beta of -0.01.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.37. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%.The business had revenue of $19.15 million for the quarter, compared to analysts' expectations of $1.44 million. 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 news, Director James N. Topper purchased 1,260 shares of the company's stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $24.99 per share, with a total value of $31,487.40. Following the transaction, the director directly owned 3,027,864 shares of the company's stock, valued at approximately $75,666,321.36. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total value of $3,874,500.00. Following the transaction, the chief accounting officer directly owned 15,000 shares in the company, valued at $387,450. This represents a 90.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. lifted its position in shares of NewAmsterdam Pharma by 3.0% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company's stock valued at $300,754,000 after buying an additional 490,656 shares during the last quarter. RA Capital Management L.P. raised its stake in shares of NewAmsterdam Pharma by 14.6% during the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock valued at $207,544,000 after purchasing an additional 1,293,938 shares during the period. Wellington Management Group LLP raised its stake in shares of NewAmsterdam Pharma by 53.0% during the 1st quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company's stock valued at $72,504,000 after purchasing an additional 1,226,852 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of NewAmsterdam Pharma by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company's stock valued at $54,566,000 after purchasing an additional 1,062,359 shares during the period. Finally, Woodline Partners LP raised its stake in shares of NewAmsterdam Pharma by 0.5% during the 1st quarter. Woodline Partners LP now owns 2,442,397 shares of the company's stock valued at $49,996,000 after purchasing an additional 11,615 shares during the period. Hedge funds and other institutional investors 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.

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