NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated by Analysts at HC Wainwright

Key Points

• NewAmsterdam Pharma has received a strong-buy rating from HC Wainwright, indicating a positive outlook for the stock's performance.
• The company's latest earnings report showed a revenue of $19.15 million, significantly surpassing analysts' expectations of $1.44 million.
• Insider trading activity revealed substantial sales, with insiders selling over 226,000 shares recently, raising concerns about insider confidence in the stock.

Equities researchers at HC Wainwright started coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $52.00 price target on the stock. HC Wainwright's target price would suggest a potential upside of 38.08% from the company's current price.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price target for the company. Wells Fargo & Company initiated coverage on NewAmsterdam Pharma in a research note on Monday, August 25th. They set an "overweight" rating and a $45.00 price objective for the company. Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price target on NewAmsterdam Pharma from $42.00 to $50.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.20.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $37.66 on Monday. The company has a 50 day moving average price of $28.09 and a 200-day moving average price of $22.42. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $41.47. The stock has a market capitalization of $4.24 billion, a PE ratio of -23.25 and a beta of 0.02.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly 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 net margin of 259.07% and a negative return on equity of 27.27%. The business had revenue of $19.15 million for the quarter, compared to analysts' expectations of $1.44 million. Equities research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper bought 1,260 shares of NewAmsterdam Pharma stock in a transaction dated Monday, September 8th. The stock was acquired at an average cost of $24.99 per share, for a total transaction of $31,487.40. Following the completion of the transaction, the director directly owned 3,027,864 shares of the company's stock, valued at approximately $75,666,321.36. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the completion of the transaction, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This trade represents a 29.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 2,391 shares of company stock valued at $58,424 and have sold 226,342 shares valued at $5,748,019. Corporate insiders own 20.84% of the company's stock.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds have recently made changes to their positions in NAMS. Quarry LP purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at about $25,000. Mather Group LLC. acquired a new stake in NewAmsterdam Pharma during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in NewAmsterdam Pharma in the 3rd quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NewAmsterdam Pharma by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company's stock worth $79,000 after acquiring an additional 662 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock worth $123,000 after purchasing an additional 3,390 shares during the period. Institutional investors and hedge funds own 89.89% of the company's stock.

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.