Scotiabank Issues Positive Forecast for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price raised by analysts at Scotiabank from $47.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 147.09% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Needham & Company LLC decreased their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma has an average rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Trading Up 6.8 %

NASDAQ NAMS traded up $1.34 during mid-day trading on Thursday, hitting $21.05. The company’s stock had a trading volume of 432,220 shares, compared to its average volume of 645,951. NewAmsterdam Pharma has a 52-week low of $15.19 and a 52-week high of $27.29. The stock’s fifty day simple moving average is $22.73 and its two-hundred day simple moving average is $20.24.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The firm had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. On average, sell-side analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $25.39, for a total value of $4,215,019.29. Following the completion of the sale, the insider now owns 11,150,461 shares of the company’s stock, valued at $283,110,204.79. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 404,927 shares of company stock valued at $10,390,787. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors have recently bought and sold shares of NAMS. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth about $50,000. National Bank of Canada FI acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth about $80,000. Quarry LP lifted its holdings in NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after purchasing an additional 6,247 shares during the period. Finally, Barclays PLC lifted its holdings in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares during the period. Institutional investors and hedge funds 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.