NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

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 equities research analysts at 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 target price suggests a potential upside of 60.03% from the company's previous close.

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

NewAmsterdam Pharma Stock Performance

Shares of NAMS traded down $0.94 during trading hours on Thursday, reaching $24.37. 948,847 shares of the company traded hands, compared to its average volume of 880,133. The stock's fifty day moving average is $20.73 and its 200 day moving average is $19.98. The stock has a market cap of $2.74 billion, a P/E ratio of -15.04 and a beta of -0.02. NewAmsterdam Pharma has a 1-year low of $14.06 and a 1-year high of $27.29.

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

Insider Buying and Selling at NewAmsterdam Pharma

In related news, COO Douglas F. Kling sold 51,043 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $21.10, for a total value of $1,077,007.30. Following the completion of the transaction, the chief operating officer owned 44,000 shares of the company's stock, valued at approximately $928,400. This trade represents a 53.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James N. Topper bought 2,520 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was acquired at an average cost of $18.43 per share, with a total value of $46,443.60. Following the transaction, the director owned 3,024,873 shares of the company's stock, valued at $55,748,409.39. This represents a 0.08% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 12,364 shares of company stock worth $236,839 and sold 198,612 shares worth $4,025,887. Company insiders own 20.84% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C grew its position in shares of NewAmsterdam Pharma by 378.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock valued at $110,879,000 after acquiring an additional 3,412,590 shares during the period. Frazier Life Sciences Management L.P. grew its position in shares of NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock valued at $409,052,000 after acquiring an additional 3,061,224 shares during the period. Wellington Management Group LLP grew its position in shares of NewAmsterdam Pharma by 2,410.4% in the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock valued at $59,499,000 after acquiring an additional 2,222,900 shares during the period. Capital International Investors bought a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at about $53,007,000. Finally, RA Capital Management L.P. grew its position in shares of NewAmsterdam Pharma by 14.6% in the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock valued at $207,544,000 after acquiring an additional 1,293,938 shares during the period. 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.