NewAmsterdam Pharma’s (NAMS) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report sent to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $36.00 price objective on the stock.

A number of other brokerages also recently weighed in on NAMS. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS traded up $1.48 on Thursday, hitting $24.12. The company had a trading volume of 598,854 shares, compared to its average volume of 261,009. The stock has a 50 day moving average price of $17.51 and a 200 day moving average price of $18.49. NewAmsterdam Pharma has a 1-year low of $8.64 and a 1-year high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.30. The business had revenue of $29.11 million during the quarter, compared to the consensus estimate of $5.35 million. Equities analysts expect that NewAmsterdam Pharma will post -2.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of NAMS. Banque Cantonale Vaudoise bought a new position in NewAmsterdam Pharma during the second quarter valued at $38,000. Rosalind Advisors Inc. purchased a new position in shares of NewAmsterdam Pharma in the second quarter worth about $194,000. Wolverine Asset Management LLC raised its position in shares of NewAmsterdam Pharma by 117.7% in the second quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after purchasing an additional 8,394 shares during the period. Sei Investments Co. lifted its stake in shares of NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after buying an additional 8,087 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in NewAmsterdam Pharma in the 3rd quarter worth approximately $700,000. 89.89% of the stock is owned by hedge funds and other 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.