NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Needham & Company LLC

Equities research analysts at Needham & Company LLC started coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a note issued to investors on Wednesday, Benzinga reports. The firm set a “buy” rating and a $36.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 114.67% from the company’s previous close.

Several other research analysts have also commented on NAMS. TD Cowen assumed coverage on shares of NewAmsterdam Pharma in a report on Wednesday, May 15th. They issued a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma has a consensus rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $16.77 on Wednesday. The business has a 50-day moving average price of $18.17 and a 200 day moving average price of $19.93. NewAmsterdam Pharma has a fifty-two week low of $5.63 and a fifty-two week high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts forecast that NewAmsterdam Pharma will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CEO Michael H. Davidson bought 5,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $17.26 per share, for a total transaction of $86,300.00. Following the transaction, the chief executive officer now directly owns 204,784 shares in the company, valued at $3,534,571.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC bought a new position in NewAmsterdam Pharma during the first quarter valued at about $22,015,000. Artal Group S.A. bought a new position in shares of NewAmsterdam Pharma during the 1st quarter valued at about $18,920,000. Janus Henderson Group PLC acquired a new position in shares of NewAmsterdam Pharma in the 1st quarter worth approximately $15,018,000. Decheng Capital LLC bought a new stake in shares of NewAmsterdam Pharma in the 2nd quarter worth approximately $7,684,000. Finally, Opaleye Management Inc. acquired a new stake in NewAmsterdam Pharma during the fourth quarter valued at approximately $2,964,000. 89.89% of the stock is currently owned by institutional investors.

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.