NewAmsterdam Pharma (NASDAQ:NAMS) Trading Up 7.5% - Still a Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s share price shot up 7.5% during mid-day trading on Tuesday . The company traded as high as $21.72 and last traded at $21.66. 344,376 shares were traded during mid-day trading, a decline of 48% from the average session volume of 663,484 shares. The stock had previously closed at $20.16.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price objective for the company. Scotiabank boosted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 27th. Stifel Nicolaus initiated coverage on NewAmsterdam Pharma in a research note on Tuesday. They issued a "buy" rating and a $44.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday. Finally, Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, NewAmsterdam Pharma has an average rating of "Moderate Buy" and an average price target of $43.00.

NewAmsterdam Pharma Stock Down 3.9%

The firm has a 50-day moving average of $18.09 and a two-hundred day moving average of $20.86. The company has a market capitalization of $2.27 billion, a PE ratio of -10.75 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The company had revenue of $2.98 million for the quarter, compared to analysts' expectations of $1.46 million. On average, equities research analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity

In other NewAmsterdam Pharma news, Director James N. Topper purchased 1,135 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were bought at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the purchase, the director now directly owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. This trade represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.84% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NAMS. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth approximately $80,000. TimesSquare Capital Management LLC raised its stake in NewAmsterdam Pharma by 250.9% in the fourth quarter. TimesSquare Capital Management LLC now owns 895,574 shares of the company's stock valued at $23,016,000 after buying an additional 640,329 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in NewAmsterdam Pharma during the 4th quarter worth about $4,816,000. Keybank National Association OH purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at about $257,000. Finally, Swiss National Bank raised its position in shares of NewAmsterdam Pharma by 105.1% during the 4th quarter. Swiss National Bank now owns 72,000 shares of the company's stock worth $1,850,000 after acquiring an additional 36,900 shares in the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.