NewAmsterdam Pharma (NASDAQ:NAMS) Given New $42.00 Price Target at Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective reduced by Needham & Company LLC from $46.00 to $42.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Scotiabank boosted their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 11th. HC Wainwright restated a “buy” rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma has an average rating of “Buy” and a consensus price target of $43.80.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $20.91 on Thursday. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29. The business has a 50 day moving average price of $22.64 and a 200-day moving average price of $20.25.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. As a group, equities research analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total value of $2,629,000.80. Following the sale, the insider now owns 10,908,502 shares of the company’s stock, valued at approximately $284,711,902.20. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 404,927 shares of company stock worth $10,390,787 over the last three months. 19.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently bought and sold shares of NAMS. Geode Capital Management LLC lifted its position in shares of NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after buying an additional 1,399 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in NewAmsterdam Pharma in the 4th quarter valued at approximately $50,000. National Bank of Canada FI bought a new stake in NewAmsterdam Pharma during the 4th quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth $80,000. Finally, Legal & General Group Plc boosted its holdings in shares of NewAmsterdam Pharma by 24.8% in the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock worth $590,000 after acquiring an additional 4,556 shares during the period. 89.89% of the stock is owned by 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.