Needham & Company LLC Reaffirms “Buy” Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $36.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 49.25% from the stock’s current price.

Several other brokerages have also recently issued reports on NAMS. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Performance

NAMS traded up $1.48 during trading on Thursday, reaching $24.12. 598,861 shares of the company’s stock were exchanged, compared to its average volume of 287,024. NewAmsterdam Pharma has a 1 year low of $8.64 and a 1 year high of $26.35. The company’s fifty day simple moving average is $17.67 and its 200-day simple moving average is $18.52.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The firm had revenue of $2.28 million for the quarter, compared to analyst estimates of $2.20 million. On average, analysts anticipate that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter valued at about $38,000. Sei Investments Co. lifted its stake in shares of NewAmsterdam Pharma by 49.1% in the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after purchasing an additional 8,087 shares in the last quarter. Wolverine Asset Management LLC lifted its stake 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 purchasing an additional 8,394 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in NewAmsterdam Pharma by 3.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company’s stock worth $4,237,000 after acquiring an additional 9,160 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new position in NewAmsterdam Pharma during the 2nd quarter worth approximately $194,000. 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.