NewAmsterdam Pharma (NASDAQ:NAMS) Given Consensus Rating of “Buy” by Brokerages

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $41.60.

A number of equities research analysts recently issued reports on the stock. Scotiabank upped 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. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th.

Insider Buying and Selling at NewAmsterdam Pharma

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

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. grew its position in NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock valued at $409,052,000 after acquiring an additional 3,061,224 shares in the last quarter. Bain Capital Life Sciences Investors LLC grew its holdings in shares of NewAmsterdam Pharma by 2.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock valued at $275,481,000 after purchasing an additional 245,197 shares in the last quarter. RA Capital Management L.P. increased its stake in NewAmsterdam Pharma by 9.7% during the 4th quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company’s stock worth $227,316,000 after buying an additional 781,000 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after buying an additional 3,412,590 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in NewAmsterdam Pharma by 291.9% during the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after buying an additional 2,978,263 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Performance

Shares of NASDAQ:NAMS opened at $19.00 on Friday. NewAmsterdam Pharma has a 52-week low of $15.19 and a 52-week high of $27.29. The business has a fifty day moving average of $23.30 and a two-hundred day moving average 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.