NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 12-Month High - Time to Buy?

Key Points

• NewAmsterdam Pharma shares have reached a new 12-month high of $27.35, reflecting strong trading activity with over 2.25 million shares exchanged.
• Wall Street analysts are optimistic about the stock, with nine analysts rating it as a Buy and average price targets ranging from $27.00 to $45.00, leading to a consensus price target of $41.55.
• In its latest quarterly earnings report, NewAmsterdam Pharma exceeded expectations, reporting a revenue of $19.15 million and an earnings per share of ($0.15), beating analyst estimates significantly.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $27.35 and last traded at $26.60, with a volume of 2254819 shares trading hands. The stock had previously closed at $26.90.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 10th. They issued a "buy" rating and a $44.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Wells Fargo & Company assumed 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 on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of NewAmsterdam Pharma in a research note on Thursday, July 17th. They issued a "neutral" rating and a $27.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.55.

NewAmsterdam Pharma Stock Performance

The firm has a market capitalization of $3.00 billion, a P/E ratio of -16.42 and a beta of -0.01. The business's fifty day moving average price is $23.58 and its two-hundred day moving average price is $20.77.

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

Insider Activity at NewAmsterdam Pharma

In related news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the sale, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This trade represents a 29.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Douglas F. Kling sold 51,043 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $21.10, for a total transaction of $1,077,007.30. Following the completion of the sale, the chief operating officer owned 44,000 shares of the company's stock, valued at $928,400. This trade represents a 53.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 14,095 shares of company stock valued at $279,621 and have sold 424,954 shares valued at $9,773,906. Corporate insiders own 20.84% of the company's stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently bought and sold shares of NAMS. Frazier Life Sciences Management L.P. boosted its stake in NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock worth $409,052,000 after purchasing an additional 3,061,224 shares in the last quarter. Wellington Management Group LLP boosted its stake in NewAmsterdam Pharma by 2,410.4% in the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after purchasing an additional 2,222,900 shares in the last quarter. RA Capital Management L.P. lifted its stake in 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 acquiring an additional 1,293,938 shares during the period. Woodline Partners LP lifted its stake in NewAmsterdam Pharma by 108.7% during the 4th quarter. Woodline Partners LP now owns 2,430,782 shares of the company's stock valued at $62,471,000 after acquiring an additional 1,266,105 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in 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 acquiring an additional 1,062,359 shares during the period. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.