Wells Fargo & Company Initiates Coverage on NewAmsterdam Pharma (NASDAQ:NAMS)

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.

Stock analysts at Wells Fargo & Company assumed coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The firm set an "overweight" rating and a $45.00 price target on the stock. Wells Fargo & Company's target price points to a potential upside of 80.00% from the stock's previous close.

A number of other analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. The Goldman Sachs Group started coverage on shares of NewAmsterdam Pharma in a research note on Thursday, July 17th. They set a "neutral" rating and a $27.00 target price for the company. 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 target price for the company. Royal Bank Of Canada raised their target price on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Citigroup initiated coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a "buy" rating and a $42.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.55.

NewAmsterdam Pharma Stock Performance

NASDAQ NAMS opened at $25.00 on Monday. The firm has a 50-day moving average of $21.70 and a 200-day moving average of $20.20. The stock has a market cap of $2.82 billion, a PE ratio of -15.43 and a beta of -0.02. NewAmsterdam Pharma has a 52-week low of $14.06 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.37. The company had revenue of $19.15 million during 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%. As a group, analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other news, COO Douglas F. Kling sold 100,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $19.29, for a total value of $1,929,000.00. Following the completion of the transaction, the chief operating officer directly owned 44,000 shares in the company, valued at approximately $848,760. The trade was a 69.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James N. Topper bought 8,584 shares of the company's stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $19.50 per share, with a total value of $167,388.00. Following the completion of the transaction, the director directly owned 3,022,153 shares in the company, valued at approximately $58,931,983.50. This represents a 0.28% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 12,835 shares of company stock valued at $248,134 and sold 198,612 shares valued at $4,025,887. 20.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in NAMS. Quarry LP acquired a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NewAmsterdam Pharma by 18.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company's stock valued at $79,000 after purchasing an additional 662 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock valued at $123,000 after purchasing an additional 3,390 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at approximately $127,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

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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