Royal Bank Of Canada Issues Positive Forecast for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

Key Points

• Royal Bank of Canada has raised its price target for NewAmsterdam Pharma (NASDAQ:NAMS) from $38.00 to $39.00, indicating a potential upside of 73.14% from the current price.
• Several analysts have expressed optimistic ratings on the stock, with eight analysts assigning a buy rating and an average target price of $41.20.
• NewAmsterdam Pharma recently reported earnings of ($0.15) EPS for the quarter, significantly exceeding analysts' expectations, and had revenue of $19.15 million, surpassing projected revenues by a considerable margin.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) had its price target raised by Royal Bank Of Canada from $38.00 to $39.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 73.14% from the stock's current price.

Several other equities analysts also recently commented on NAMS. Citigroup started coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Cantor Fitzgerald started coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price for the company. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Stifel Nicolaus started coverage on NewAmsterdam Pharma in a research note on Tuesday, June 10th. They set a "buy" rating and a $44.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.20.

NewAmsterdam Pharma Stock Performance

NAMS traded down $1.10 during trading on Thursday, reaching $22.53. The stock had a trading volume of 157,762 shares, compared to its average volume of 869,491. NewAmsterdam Pharma has a one year low of $14.06 and a one year high of $27.29. The business has a 50-day moving average of $20.48 and a 200-day moving average of $20.02. The stock has a market cap of $2.53 billion, a PE ratio of -11.99 and a beta of -0.02.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.37. NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. The firm had revenue of $19.15 million during 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 fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, Director James N. Topper acquired 8,584 shares of the company's stock in a transaction dated 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 acquisition, the director owned 3,022,153 shares of the company's stock, valued at approximately $58,931,983.50. The trade was a 0.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the sale, the chief operating officer directly owned 44,000 shares of the company's stock, valued at $848,760. The trade was a 69.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 12,364 shares of company stock valued at $236,839 and have sold 198,612 shares valued at $4,025,887. 20.84% of the stock is currently owned by corporate insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after purchasing an additional 596 shares during the period. Legal & General Group Plc increased its position in shares of NewAmsterdam Pharma by 24.8% during the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company's stock worth $590,000 after purchasing an additional 4,556 shares during the last quarter. Northern Trust Corp purchased a new position in NewAmsterdam Pharma during the 4th quarter valued at about $556,000. Barclays PLC grew its stake in NewAmsterdam Pharma by 120.0% during the 4th quarter. Barclays PLC now owns 16,713 shares of the company's stock worth $429,000 after purchasing an additional 9,117 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in NewAmsterdam Pharma during the 4th quarter worth about $784,000. Hedge funds and other institutional investors 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.

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