Needham & Company LLC Reaffirms “Buy” Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $36.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 65.29% from the stock’s previous close.

NAMS has been the topic of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Up 13.7 %

NASDAQ:NAMS opened at $21.78 on Thursday. The business’s 50-day moving average price is $17.27 and its two-hundred day moving average price is $18.44. NewAmsterdam Pharma has a twelve month low of $8.64 and a twelve month high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.30. The firm had revenue of $29.11 million for the quarter, compared to analysts’ expectations of $5.35 million. On average, analysts expect that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new stake in shares of NewAmsterdam Pharma in the 2nd quarter worth approximately $38,000. Rosalind Advisors Inc. bought a new stake in NewAmsterdam Pharma in the second quarter valued at $194,000. Wolverine Asset Management LLC increased its position in NewAmsterdam Pharma by 117.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after purchasing an additional 8,394 shares during the period. Sei Investments Co. raised its holdings in NewAmsterdam Pharma by 49.1% in the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after purchasing an additional 8,087 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of NewAmsterdam Pharma in the 3rd quarter worth about $700,000. Institutional investors own 89.89% of the company’s stock.

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.