NewAmsterdam Pharma (NASDAQ:NAMS) Earns Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report released on Monday, Benzinga reports. The firm currently has a $37.00 price target on the stock.

A number of other equities analysts have also recently weighed in on NAMS. Needham & Company LLC began coverage on NewAmsterdam Pharma in a report on Wednesday, August 28th. They set a buy rating and a $36.00 price objective on the stock. Royal Bank of Canada reissued an outperform rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average target price of $33.80.

NewAmsterdam Pharma Price Performance

NAMS stock opened at $15.24 on Monday. The firm has a 50 day simple moving average of $16.70 and a two-hundred day simple moving average of $19.10. NewAmsterdam Pharma has a one year low of $5.63 and a one year high of $26.35.

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

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently made changes to their positions in NAMS. Jennison Associates LLC bought a new stake in NewAmsterdam Pharma during the 1st quarter valued at $22,015,000. Artal Group S.A. bought a new position in shares of NewAmsterdam Pharma during the first quarter valued at about $18,920,000. Janus Henderson Group PLC purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $15,018,000. Decheng Capital LLC bought a new stake in shares of NewAmsterdam Pharma in the second quarter worth about $7,684,000. Finally, Opaleye Management Inc. purchased a new position in NewAmsterdam Pharma during the 4th quarter valued at about $2,964,000. 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.