Royal Bank Of Canada Has Lowered Expectations for NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price

NewAmsterdam Pharma (NASDAQ:NAMS) had its price target dropped by equities researchers at Royal Bank Of Canada from $51.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 78.83% from the stock’s current price.

A number of other brokerages have also commented on NAMS. Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Finally, BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They set an “outperform” rating and a $58.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.33.

NewAmsterdam Pharma Trading Up 1.0%

Shares of NASDAQ NAMS opened at $27.96 on Thursday. NewAmsterdam Pharma has a 12-month low of $23.05 and a 12-month high of $42.21. The company has a market cap of $3.27 billion, a PE ratio of -12.94 and a beta of 0.10. The stock has a 50 day simple moving average of $31.37 and a 200-day simple moving average of $32.50.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.70 million during the quarter, compared to analyst estimates of $2.83 million. Sell-side analysts forecast that NewAmsterdam Pharma will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 105,000 shares of NewAmsterdam Pharma stock in a transaction on Monday, July 20th. The stock was sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the transaction, the chief accounting officer directly owned 24,353 shares in the company, valued at approximately $738,870.02. This trade represents a 81.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 210,000 shares of company stock worth $6,713,550. Company insiders own 12.74% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in NewAmsterdam Pharma by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Geode Capital Management LLC lifted its stake in NewAmsterdam Pharma by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 102,395 shares of the company’s stock valued at $3,590,000 after buying an additional 437 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in NewAmsterdam Pharma by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock valued at $197,000 after buying an additional 544 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of NewAmsterdam Pharma by 4,425.0% in the fourth quarter. Farther Finance Advisors LLC now owns 724 shares of the company’s stock worth $25,000 after buying an additional 708 shares during the period. Finally, AlphaCentric Advisors LLC boosted its holdings in shares of NewAmsterdam Pharma by 6.7% in the first quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock worth $469,000 after buying an additional 925 shares during the period. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.