NewAmsterdam Pharma (NASDAQ:NAMS) Trading 7.5% Higher – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares traded up 7.5% during mid-day trading on Tuesday . The stock traded as high as $21.72 and last traded at $21.66. 344,376 shares traded hands during trading, a decline of 48% from the average session volume of 663,484 shares. The stock had previously closed at $20.16.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Scotiabank lifted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 27th. Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Stifel Nicolaus started coverage on NewAmsterdam Pharma in a research report on Tuesday. They set a “buy” rating and a $44.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

NewAmsterdam Pharma Stock Performance

The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -11.55 and a beta of -0.03. The business has a fifty day moving average price of $17.82 and a 200 day moving average price of $20.86.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The business had revenue of $2.98 million during the quarter, compared to the consensus estimate of $1.46 million. On average, analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Transactions at NewAmsterdam Pharma

In related news, Director James N. Topper purchased 1,135 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the acquisition, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This trade represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.84% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of NewAmsterdam Pharma during the first quarter valued at approximately $25,000. GF Fund Management CO. LTD. purchased a new stake in NewAmsterdam Pharma during the 4th quarter worth $50,000. National Bank of Canada FI acquired a new position in NewAmsterdam Pharma in the 4th quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in NewAmsterdam Pharma in the 4th quarter valued at about $80,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NewAmsterdam Pharma by 130.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock valued at $123,000 after acquiring an additional 3,390 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.