NewAmsterdam Pharma (NASDAQ:NAMS) Stock Rating Upgraded by Wall Street Zen

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other brokerages have also issued reports on NAMS. Cantor Fitzgerald assumed coverage on NewAmsterdam Pharma in a research report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price on the stock. Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a research report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Finally, Citigroup assumed coverage on NewAmsterdam Pharma in a research report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma has an average rating of "Moderate Buy" and an average target price of $42.89.

NewAmsterdam Pharma Stock Up 4.7%

NASDAQ NAMS opened at $19.85 on Friday. The business has a 50 day moving average price of $18.92 and a two-hundred day moving average price of $20.53. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The stock has a market cap of $2.23 billion, a PE ratio of -10.56 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. The business had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. Sell-side analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 100,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $19.29, for a total value of $1,929,000.00. Following the sale, the chief operating officer directly owned 44,000 shares of the company's stock, valued at $848,760. This trade represents a 69.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James N. Topper purchased 2,520 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was acquired at an average cost of $18.43 per share, with a total value of $46,443.60. Following the purchase, the director owned 3,024,873 shares of the company's stock, valued at approximately $55,748,409.39. This represents a 0.08% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 12,364 shares of company stock worth $236,839 over the last ninety days. 20.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock worth $80,000 after purchasing an additional 596 shares in the last quarter. Quarry LP bought a new position in NewAmsterdam Pharma during the first quarter valued at about $25,000. GF Fund Management CO. LTD. bought a new position in NewAmsterdam Pharma during the fourth quarter valued at about $50,000. National Bank of Canada FI bought a new position in NewAmsterdam Pharma during the fourth quarter valued at about $51,000. Finally, Geode Capital Management LLC boosted its stake in NewAmsterdam Pharma by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 88,544 shares of the company's stock valued at $2,276,000 after buying an additional 2,222 shares in the last quarter. 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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