NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Target Cut by Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price cut by Needham & Company LLC from $48.00 to $46.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s target price indicates a potential upside of 143.39% from the stock’s current price.

Several other analysts have also issued reports on NAMS. Royal Bank Of Canada cut their target price on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. BMO Capital Markets assumed coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They set an “outperform” rating and a $58.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NewAmsterdam Pharma has an average rating of “Moderate Buy” and an average target price of $48.70.

NewAmsterdam Pharma Stock Up 0.1%

NASDAQ:NAMS traded up $0.01 on Thursday, hitting $18.90. The stock had a trading volume of 1,706,194 shares, compared to its average volume of 1,431,030. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -11.18 and a beta of 0.15. The business’s 50-day simple moving average is $22.10 and its two-hundred day simple moving average is $29.52. NewAmsterdam Pharma has a 52-week low of $18.50 and a 52-week high of $42.21.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.33. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The firm had revenue of $19.16 million during the quarter, compared to analyst estimates of $8.82 million. As a group, equities research analysts anticipate that NewAmsterdam Pharma will post -1.69 EPS for the current year.

Insider Activity at NewAmsterdam Pharma

In related news, Director John W. Smither sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the transaction, the director directly owned 8,760 shares in the company, valued at approximately $221,803.20. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Davidson bought 10,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $22.65 per share, with a total value of $226,500.00. Following the completion of the acquisition, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. This represents a 1.28% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 176,846 shares of company stock worth $4,661,919. 12.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently modified their holdings of the company. KBC Group NV purchased a new stake in shares of NewAmsterdam Pharma in the first quarter worth $37,000. Parallel Advisors LLC lifted its stake in shares of NewAmsterdam Pharma by 43.7% during the 3rd quarter. Parallel Advisors LLC now owns 2,012 shares of the company’s stock valued at $49,000 after buying an additional 612 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in NewAmsterdam Pharma in the 3rd quarter worth $149,000. PNC Financial Services Group Inc. boosted its holdings in NewAmsterdam Pharma by 147.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock worth $292,000 after buying an additional 5,437 shares during the period. Finally, CenterBook Partners LP bought a new position in NewAmsterdam Pharma in the 3rd quarter worth $290,000. 89.89% of the stock is currently owned by institutional investors.

About NewAmsterdam Pharma

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.