NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage on NewAmsterdam Pharma (NASDAQ:NAMS) with an "overweight" rating and a price target of $45.00, indicating a potential upside of 80.00% from its previous close.
• Other analysts have issued ratings on NewAmsterdam Pharma, with a consensus rating of "Moderate Buy" and a price target of $41.55.
• The company reported better-than-expected earnings, with an EPS of ($0.15) compared to analysts' estimates of ($0.52), along with a revenue of $19.15 million.

Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $45.00 target price on the stock.

NAMS has been the subject of a number of other reports. Cantor Fitzgerald started coverage on NewAmsterdam Pharma in a research report on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price objective for the company. The Goldman Sachs Group started coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price objective for the company. Royal Bank Of Canada raised their price objective on NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Finally, Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, NewAmsterdam Pharma currently has an average rating of "Moderate Buy" and a consensus target price of $41.55.

NewAmsterdam Pharma Trading Up 0.4%

NASDAQ NAMS traded up $0.10 during trading on Monday, reaching $24.05. 850,991 shares of the company's stock were exchanged, compared to its average volume of 811,932. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The firm has a market capitalization of $2.71 billion, a PE ratio of -14.85 and a beta of -0.02. The company's fifty day simple moving average is $22.29 and its 200-day simple moving average is $20.37.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.52) by $0.37. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%.The firm had revenue of $19.15 million during the quarter, compared to analyst estimates of $1.44 million. Equities analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other news, Director James N. Topper purchased 2,520 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was acquired at an average price of $18.43 per share, with a total value of $46,443.60. Following the purchase, the director owned 3,024,873 shares in the company, valued at $55,748,409.39. This represents a 0.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Douglas F. Kling sold 51,043 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer directly owned 44,000 shares of the company's stock, valued at approximately $928,400. The trade was a 53.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 12,835 shares of company stock worth $248,134 and sold 256,881 shares worth $5,445,954. 20.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NAMS. Deerfield Management Company L.P. Series C raised its stake 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 in the last quarter. Frazier Life Sciences Management L.P. raised its stake 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 in the last quarter. Wellington Management Group LLP raised its stake 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 in the last quarter. RA Capital Management L.P. raised its stake 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 in the last quarter. Finally, Woodline Partners LP raised its stake in shares of NewAmsterdam Pharma by 108.7% in the 4th quarter. Woodline Partners LP now owns 2,430,782 shares of the company's stock valued at $62,471,000 after acquiring an additional 1,266,105 shares in the last quarter. 89.89% of the stock is owned by institutional investors.

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.