NewAmsterdam Pharma (NASDAQ:NAMS) Trading 10.1% Higher 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) rose 10.1% 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. Approximately 596,445 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 868,590 shares. The stock had previously closed at $22.96.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Citigroup began coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a "buy" rating and a $42.00 price objective on the stock. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 target price on the stock. The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 target price for the company. Finally, Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.20.

Insider Buying and Selling

In other news, Director James N. Topper acquired 8,584 shares of the company's stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $19.50 per share, with a total value 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. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the completion of the sale, the chief operating officer owned 44,000 shares of the company's stock, valued at $848,760. This trade represents a 69.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 12,364 shares of company stock valued at $236,839 and sold 198,612 shares valued at $4,025,887. 20.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Large investors have recently modified their holdings of the business. Deerfield Management Company L.P. Series C increased its stake in NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock worth $110,879,000 after buying an additional 3,412,590 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in shares of NewAmsterdam Pharma by 23.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock valued at $409,052,000 after buying an additional 3,061,224 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 acquiring an additional 2,222,900 shares during the period. Capital International Investors acquired a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at approximately $53,007,000. Finally, RA Capital Management L.P. grew 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 worth $207,544,000 after purchasing an additional 1,293,938 shares during the period. Hedge funds and other institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Trading Up 11.5%

The firm has a market capitalization of $2.88 billion, a PE ratio of -15.61 and a beta of -0.02. The stock's 50 day moving average price is $20.58 and its two-hundred day moving average price is $20.01.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.37. The company had revenue of $19.15 million for the quarter, compared to analyst estimates of $1.44 million. NewAmsterdam Pharma had a negative return on equity of 28.78% and a negative net margin of 259.07%. Analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current year.

NewAmsterdam Pharma Company Profile

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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