NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 7.5% - Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock price shot up 7.5% during trading on Tuesday . The company traded as high as $21.72 and last traded at $21.66. 344,376 shares traded hands 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 Ratings Changes

Several research analysts have recently commented on the stock. Cantor Fitzgerald started coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price target on the stock. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research note on Monday, March 3rd. Needham & Company LLC lowered their price target on NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research note on Tuesday. They issued a "buy" rating and a $44.00 target price on the stock. Finally, Wall Street Zen upgraded 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 assigned a buy rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma has an average rating of "Moderate Buy" and a consensus target price of $43.00.

NewAmsterdam Pharma Stock Down 6.1%

The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -10.90 and a beta of -0.03. The stock's 50-day moving average price is $17.90 and its 200 day moving average price is $20.87.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. On average, research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity

In related news, Director James N. Topper bought 1,135 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of $22.49 per share, with a total value of $25,526.15. Following the acquisition, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This represents a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. Quarry LP acquired a new position in NewAmsterdam Pharma in the first quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new position in NewAmsterdam Pharma during the fourth quarter worth about $50,000. National Bank of Canada FI bought a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NewAmsterdam Pharma during the 4th quarter worth approximately $80,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 purchasing an additional 3,390 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

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.