NewAmsterdam Pharma (NASDAQ:NAMS) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded NewAmsterdam Pharma from “sell” to “hold,” while the broader analyst view remains constructive with a consensus rating of “Moderate Buy” and an average price target of $48.00.
• The stock jumped 11.1% and opened at $38.73, near its 12-month high of $42.00, giving the company a market cap of about $4.45 billion.
• Recent quarterly results showed a loss of $0.40 per share on just $3.04 million in revenue, and insiders have been selling shares, including significant transactions by a company insider and a director.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently commented on the stock. Needham & Company LLC upped their price target on shares of NewAmsterdam Pharma from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, February 18th. Truist Financial began coverage on shares of NewAmsterdam Pharma in a report on Wednesday, March 18th. They issued a "buy" rating and a $57.00 price target on the stock. Guggenheim upped their price target on shares of NewAmsterdam Pharma from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. HC Wainwright upgraded shares of NewAmsterdam Pharma to a "strong-buy" rating in a report on Thursday, February 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NewAmsterdam Pharma in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.00.

NewAmsterdam Pharma Trading Up 11.1%

NASDAQ NAMS opened at $38.73 on Friday. The company's 50-day moving average price is $31.77 and its 200-day moving average price is $34.24. The stock has a market cap of $4.45 billion, a PE ratio of -21.64 and a beta of 0.02. NewAmsterdam Pharma has a 12 month low of $16.78 and a 12 month high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.40) EPS for the quarter. The company had revenue of $3.04 million during the quarter. NewAmsterdam Pharma had a negative return on equity of 25.90% and a negative net margin of 943.23%. As a group, sell-side analysts forecast that NewAmsterdam Pharma will post -1.89 earnings per share for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, insider Johannes Jacob Piete Kastelein sold 104,467 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $3,165,350.10. Following the transaction, the insider owned 69,302 shares of the company's stock, valued at approximately $2,099,850.60. This trade represents a 60.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Louis G. Lange sold 44,619 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $30.42, for a total transaction of $1,357,309.98. Following the transaction, the director directly owned 10,360 shares in the company, valued at $315,151.20. This trade represents a 81.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,168,286 shares of company stock valued at $38,211,967. Company insiders own 20.84% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of NewAmsterdam Pharma by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 900 shares of the company's stock worth $32,000 after buying an additional 300 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NewAmsterdam Pharma by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 102,395 shares of the company's stock worth $3,590,000 after buying an additional 437 shares during the last quarter. Arizona State Retirement System grew its position in shares of NewAmsterdam Pharma by 3.8% in the 3rd quarter. Arizona State Retirement System now owns 13,251 shares of the company's stock worth $377,000 after buying an additional 483 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of NewAmsterdam Pharma by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company's stock worth $197,000 after buying an additional 544 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of NewAmsterdam Pharma by 4,425.0% in the 4th quarter. Farther Finance Advisors LLC now owns 724 shares of the company's stock worth $25,000 after buying an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.

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