NewAmsterdam Pharma (NASDAQ:NAMS) Stock Rating Raised to Hold at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of NewAmsterdam Pharma (NASDAQ:NAMS – Free Report) from a sell rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other research analysts have also commented on NAMS. Jefferies Financial Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. HC Wainwright reissued a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Royal Bank Of Canada cut their target price on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. BMO Capital Markets initiated coverage on NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.90.

Get Our Latest Analysis on NAMS

NewAmsterdam Pharma Stock Performance

Shares of NASDAQ:NAMS opened at $20.06 on Friday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -9.29 and a beta of 0.15. NewAmsterdam Pharma has a 12 month low of $19.13 and a 12 month high of $42.21. The firm’s 50-day moving average is $22.86 and its 200 day moving average is $29.83.

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The company had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $2.83 million. NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%. As a group, equities analysts forecast that NewAmsterdam Pharma will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Davidson purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average price of $22.65 per share, with a total value of $226,500.00. Following the completion of the purchase, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. This trade represents a 1.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Smither sold 1,600 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the sale, the director owned 8,760 shares of the company’s stock, valued at approximately $221,803.20. This trade represents a 15.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 176,846 shares of company stock valued at $4,661,919 over the last ninety days. Insiders own 12.74% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in NAMS. Frazier Life Sciences Management L.P. raised its position in shares of NewAmsterdam Pharma by 6.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after purchasing an additional 1,145,128 shares during the period. Maverick Capital Ltd. grew its position in NewAmsterdam Pharma by 15.4% during the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after purchasing an additional 292,176 shares during the last quarter. Bank of America Corp DE boosted its stake in NewAmsterdam Pharma by 84.4% in the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock worth $27,115,000 after purchasing an additional 387,698 shares during the period. SEB Asset Management AB purchased a new stake in NewAmsterdam Pharma in the first quarter worth about $8,728,000. Finally, Stempoint Capital LP raised its position in NewAmsterdam Pharma by 147.1% during the first quarter. Stempoint Capital LP now owns 180,658 shares of the company’s stock valued at $5,783,000 after acquiring an additional 107,552 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

(Get Free Report)

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.

Read More