NewAmsterdam Pharma (NASDAQ:NAMS) Receives $41.60 Average Price Target from Analysts

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have received an average rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $41.60.

A number of research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank lifted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the completion of the transaction, the insider now owns 10,908,502 shares in the company, valued at $284,711,902.20. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 404,927 shares of company stock worth $10,390,787. Company insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of NewAmsterdam Pharma by 35.6% during the third quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $5,485,000 after purchasing an additional 86,712 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of NewAmsterdam Pharma by 1,231.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after buying an additional 221,305 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of NewAmsterdam Pharma by 176.9% in the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock valued at $371,000 after buying an additional 14,280 shares during the last quarter. State Street Corp lifted its stake in shares of NewAmsterdam Pharma by 168.7% in the third quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after buying an additional 23,805 shares in the last quarter. Finally, abrdn plc boosted its position in NewAmsterdam Pharma by 69.8% during the third quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after acquiring an additional 53,060 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $19.00 on Friday. NewAmsterdam Pharma has a 1 year low of $15.19 and a 1 year high of $27.29. The firm has a fifty day moving average price of $23.30 and a 200 day moving average price of $20.16.

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.