Brokerages Set NewAmsterdam Pharma (NASDAQ:NAMS) PT at $33.80

NewAmsterdam Pharma (NASDAQ:NAMS) has received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have covered the stock in the last year is $33.80.

NAMS has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th.

NewAmsterdam Pharma Trading Up 6.5 %

NAMS opened at $24.12 on Wednesday. The stock has a 50-day moving average of $17.51 and a 200 day moving average of $18.49. NewAmsterdam Pharma has a 12 month low of $8.64 and a 12 month 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 the consensus estimate of ($0.48) by $0.30. The company had revenue of $29.11 million during the quarter, compared to the consensus estimate of $5.35 million. On average, analysts expect that NewAmsterdam Pharma will post -2.06 earnings per share for the current year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently bought and sold shares of the stock. TimesSquare Capital Management LLC purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at $5,407,000. Jennison Associates LLC purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter worth approximately $22,015,000. Janus Henderson Group PLC purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter worth approximately $15,018,000. abrdn plc raised its stake in shares of NewAmsterdam Pharma by 69.8% during the 3rd quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after acquiring an additional 53,060 shares in the last quarter. Finally, Millennium Management LLC lifted its position in NewAmsterdam Pharma by 23.0% during the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after acquiring an additional 217,902 shares during the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.