NewAmsterdam Pharma (NASDAQ:NAMS) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note published on Friday, Benzinga reports. They currently have a $31.00 price objective on the stock.

A number of other analysts also recently weighed in on the company. TD Cowen began coverage on NewAmsterdam Pharma in a report on Wednesday, May 15th. They set a buy rating for the company. Scotiabank began coverage on NewAmsterdam Pharma in a research note on Thursday, March 14th. They issued a sector outperform rating and a $35.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of Buy and a consensus target price of $33.25.

NewAmsterdam Pharma Stock Performance

Shares of NASDAQ:NAMS opened at $19.30 on Friday. NewAmsterdam Pharma has a 12 month low of $5.63 and a 12 month high of $26.35. The company’s fifty day simple moving average is $20.34 and its 200 day simple moving average is $18.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.08). The company had revenue of $1.40 million for the quarter, compared to analyst estimates of $2.95 million. Sell-side analysts expect that NewAmsterdam Pharma will post -2.52 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, Director James N. Topper purchased 8,429 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $21.50 per share, with a total value of $181,223.50. Following the completion of the transaction, the director now directly owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NewAmsterdam Pharma news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $21.50, for a total value of $4,095,234.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James N. Topper bought 8,429 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of $21.50 per share, with a total value of $181,223.50. Following the completion of the transaction, the director now owns 3,008,429 shares in the company, valued at $64,681,223.50. The disclosure for this purchase can be found here. Company insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fcpm Iii Services B.V. purchased a new stake in NewAmsterdam Pharma during the fourth quarter worth about $132,157,000. Jennison Associates LLC bought a new position in shares of NewAmsterdam Pharma during the 1st quarter valued at approximately $22,015,000. Artal Group S.A. purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $18,920,000. Janus Henderson Group PLC bought a new stake in shares of NewAmsterdam Pharma in the 1st quarter worth approximately $15,018,000. Finally, Opaleye Management Inc. lifted its stake in NewAmsterdam Pharma by 18.8% in the first quarter. Opaleye Management Inc. now owns 315,388 shares of the company’s stock valued at $7,459,000 after purchasing an additional 50,000 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.