NewAmsterdam Pharma’s (NAMS) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $31.00 price target on the stock.

Several other analysts have also recently issued reports on NAMS. TD Cowen initiated coverage on NewAmsterdam Pharma in a report on Wednesday, May 15th. They issued a buy rating for the company. Needham & Company LLC initiated coverage on shares of NewAmsterdam Pharma in a report on Wednesday, August 28th. They issued a buy rating and a $36.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $33.80.

NewAmsterdam Pharma Trading Up 1.2 %

Shares of NASDAQ NAMS opened at $16.40 on Thursday. NewAmsterdam Pharma has a 52 week low of $5.63 and a 52 week high of $26.35. The firm has a 50-day simple moving average of $17.76 and a 200-day simple moving average of $19.70.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million during the quarter, compared to analysts’ expectations of $2.20 million. Analysts anticipate that NewAmsterdam Pharma will post -2.06 EPS for the current fiscal year.

Insider Activity

In other NewAmsterdam Pharma news, CEO Michael H. Davidson acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $17.26 per share, with a total value of $86,300.00. Following the transaction, the chief executive officer now owns 204,784 shares of the company’s stock, valued at $3,534,571.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several large investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new stake in NewAmsterdam Pharma in the second quarter valued at approximately $38,000. Rosalind Advisors Inc. acquired a new stake in shares of NewAmsterdam Pharma in the second quarter valued at $194,000. Wolverine Asset Management LLC raised its holdings in shares of NewAmsterdam Pharma by 117.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after buying an additional 8,394 shares during the period. Sei Investments Co. lifted its stake in NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after acquiring an additional 8,087 shares in the last quarter. Finally, Yarbrough Capital LLC acquired a new position in NewAmsterdam Pharma during the 1st quarter worth about $567,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.