NewAmsterdam Pharma (NASDAQ:NAMS) Given Average Recommendation of “Buy” by Brokerages

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.17.

A number of equities analysts have recently issued reports on NAMS shares. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Scotiabank upped their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th. HC Wainwright assumed coverage on NewAmsterdam Pharma in a research report on Monday. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th.

Insider Activity at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the sale, the insider now owns 11,778,760 shares in the company, valued at $295,411,300.80. This represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 416,884 shares of company stock worth $10,676,428 in the last ninety days. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter valued at approximately $38,000. Quarry LP lifted its stake in NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 6,247 shares in the last quarter. Barclays PLC boosted its holdings in shares of NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after buying an additional 7,199 shares during the period. Bellevue Group AG bought a new stake in shares of NewAmsterdam Pharma during the third quarter worth $128,000. Finally, XTX Topco Ltd bought a new stake in shares of NewAmsterdam Pharma during the third quarter worth $187,000. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Stock Up 0.4 %

NewAmsterdam Pharma stock opened at $25.70 on Thursday. NewAmsterdam Pharma has a 12-month low of $11.18 and a 12-month high of $27.29. The stock has a 50-day simple moving average of $22.26 and a 200 day simple moving average of $19.26.

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.