Brokerages Set NewAmsterdam Pharma (NASDAQ:NAMS) Target Price at $41.60

NewAmsterdam Pharma (NASDAQ:NAMS) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $41.60.

A number of research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Finally, Scotiabank lifted their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th.

NewAmsterdam Pharma Stock Up 2.6 %

NewAmsterdam Pharma stock opened at $19.91 on Friday. The stock has a 50-day simple moving average of $23.64 and a 200 day simple moving average of $20.14. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29.

Insiders Place Their Bets

In other news, major shareholder Nap B.V. Forgrowth sold 25,132 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $25.49, for a total transaction of $640,614.68. Following the completion of the transaction, the insider now directly owns 10,777,092 shares in the company, valued at approximately $274,708,075.08. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 404,927 shares of company stock valued at $10,390,787. 19.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth about $80,000. Quarry LP grew its position in shares of NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares during the period. Barclays PLC grew its position in shares of NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after buying an additional 7,199 shares during the period. Finally, Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma during the 3rd quarter worth about $128,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.