NewAmsterdam Pharma (NASDAQ:NAMS) Given Consensus Rating of “Buy” by Brokerages

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $33.80.

A number of equities research analysts recently commented on NAMS shares. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Needham & Company LLC assumed coverage on NewAmsterdam Pharma in a research note on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock opened at $15.47 on Tuesday. The business has a 50-day moving average of $16.92 and a two-hundred day moving average of $19.21. NewAmsterdam Pharma has a 1 year low of $5.63 and a 1 year high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.08. The company had revenue of $2.28 million for the quarter, compared to analyst estimates of $2.20 million. On average, sell-side analysts predict that NewAmsterdam Pharma will post -2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NAMS. Millennium Management LLC raised its stake in shares of NewAmsterdam Pharma by 23.0% during the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after purchasing an additional 217,902 shares in the last quarter. Jennison Associates LLC bought a new stake in NewAmsterdam Pharma during the first quarter worth $22,015,000. Deerfield Management Company L.P. Series C lifted its stake in NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after acquiring an additional 202,250 shares during the last quarter. Artal Group S.A. bought a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at about $18,920,000. Finally, Janus Henderson Group PLC acquired a new position in shares of NewAmsterdam Pharma during the 1st quarter worth about $15,018,000. 89.89% of the stock is 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.