NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 10.1% Following Analyst Upgrade

Key Points

• NewAmsterdam Pharma's stock increased by 10.1% following an upgrade from Royal Bank of Canada, which raised its price target from $38.00 to $39.00 while maintaining an outperform rating.
• Research firms have issued several positive ratings on NewAmsterdam Pharma, with an average consensus target price of $41.20 and eight analysts recommending a buy.
• Insider trading activity includes the purchase of 8,584 shares by Director James N. Topper and a significant sale of 100,000 shares by COO Douglas F. Kling, indicating mixed sentiment among company leadership.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) traded up 10.1% during mid-day trading on Friday after Royal Bank Of Canada raised their price target on the stock from $38.00 to $39.00. Royal Bank Of Canada currently has an outperform rating on the stock. NewAmsterdam Pharma traded as high as $25.09 and last traded at $25.28. 596,445 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 868,590 shares. The stock had previously closed at $22.96.

Several other research firms have also issued reports on NAMS. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 price target on the stock. Citigroup began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 17th. They issued a "buy" rating and a $42.00 target price for the company. Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price for the company. 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, The Goldman Sachs Group began coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They issued a "neutral" rating and a $27.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $41.20.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, Director James N. Topper acquired 8,584 shares of the company's stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $19.50 per share, for a total transaction of $167,388.00. Following the completion of the purchase, the director directly owned 3,022,153 shares of the company's stock, valued at $58,931,983.50. The trade was a 0.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief operating officer owned 44,000 shares of the company's stock, valued at $848,760. This represents a 69.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 12,364 shares of company stock valued at $236,839 and have sold 198,612 shares valued at $4,025,887. Corporate insiders own 20.84% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NAMS. Quarry LP acquired a new stake in shares of NewAmsterdam Pharma in the first quarter valued at $25,000. GF Fund Management CO. LTD. acquired a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NewAmsterdam Pharma by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company's stock valued at $79,000 after buying an additional 662 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NewAmsterdam Pharma by 130.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock valued at $123,000 after buying an additional 3,390 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of NewAmsterdam Pharma in the first quarter valued at $127,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Price Performance

The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -15.43 and a beta of -0.02. The stock has a 50 day moving average price of $20.84 and a two-hundred day moving average price of $19.98.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its 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 return on equity of 27.27% and a negative net margin of 259.07%. The company had revenue of $19.15 million during the quarter, compared to analyst estimates of $1.44 million. Sell-side analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

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.