NewAmsterdam Pharma (NASDAQ:NAMS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NewAmsterdam Pharma (NASDAQ:NAMS) from a sell rating to a hold rating in a report issued on Sunday,Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, October 15th. BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective for the company. Royal Bank Of Canada reduced their price objective on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

NewAmsterdam Pharma Trading Up 1.7%

NASDAQ NAMS opened at $19.90 on Friday. NewAmsterdam Pharma has a 12-month low of $19.13 and a 12-month high of $42.21. The company has a fifty day simple moving average of $22.56 and a two-hundred day simple moving average of $29.71. The stock has a market cap of $2.38 billion, a P/E ratio of -9.21 and a beta of 0.15.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The company had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $2.83 million. As a group, sell-side analysts forecast that NewAmsterdam Pharma will post -1.82 earnings per share for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, insider Johannes Kastelein sold 125,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $26.91, for a total value of $3,363,750.00. Following the sale, the insider owned 69,302 shares in the company, valued at $1,864,916.82. This represents a 64.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Smither sold 1,600 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $25.32, for a total value of $40,512.00. Following the completion of the sale, the director owned 8,760 shares in the company, valued at $221,803.20. The trade was a 15.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 176,846 shares of company stock worth $4,661,919. Insiders own 12.74% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NAMS. Kornitzer Capital Management Inc. KS grew its stake in shares of NewAmsterdam Pharma by 1.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 141,711 shares of the company’s stock worth $3,446,000 after purchasing an additional 1,778 shares during the period. AlphaCentric Advisors LLC increased its holdings in shares of NewAmsterdam Pharma by 4.6% during the 3rd quarter. AlphaCentric Advisors LLC now owns 15,549 shares of the company’s stock valued at $378,000 after purchasing an additional 681 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of NewAmsterdam Pharma by 43.7% in the 3rd quarter. Parallel Advisors LLC now owns 2,012 shares of the company’s stock valued at $49,000 after purchasing an additional 612 shares during the period. Alps Advisors Inc. lifted its stake in shares of NewAmsterdam Pharma by 34.1% in the 3rd quarter. Alps Advisors Inc. now owns 158,398 shares of the company’s stock valued at $3,852,000 after purchasing an additional 40,253 shares during the period. Finally, CenterBook Partners LP acquired a new position in shares of NewAmsterdam Pharma in the 3rd quarter valued at $290,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.