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

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price decreased by Needham & Company LLC from $46.00 to $42.00 in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, January 24th. HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Finally, Scotiabank raised their price objective 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Trading Up 6.1 %

Shares of NAMS 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’s fifty day moving average is $22.64 and its 200 day moving average is $20.25.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results 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 analysts’ expectations of $3.30 million. As a group, equities research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 in the company, valued at $284,711,902.20. This represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 404,927 shares of company stock worth $10,390,787. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds have recently added to or reduced their stakes in NAMS. GF Fund Management CO. LTD. bought a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at $50,000. Frazier Life Sciences Management L.P. increased its stake in NewAmsterdam Pharma by 23.8% during 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 purchasing an additional 3,061,224 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in NewAmsterdam Pharma by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,571 shares of the company’s stock worth $6,517,000 after buying an additional 14,288 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth approximately $721,000. Finally, Woodline Partners LP lifted its stake in shares of NewAmsterdam Pharma by 108.7% in the fourth quarter. Woodline Partners LP now owns 2,430,782 shares of the company’s stock worth $62,471,000 after buying an additional 1,266,105 shares in the last quarter. 89.89% of the stock is owned by institutional investors.

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.