Brokerages Set NewAmsterdam Pharma (NASDAQ:NAMS) Target Price at $33.80

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have been given an average rating of “Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $33.80.

Several equities analysts recently weighed in on NAMS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Needham & Company LLC assumed coverage on NewAmsterdam Pharma in a report on Wednesday, August 28th. They issued a “buy” rating and a $36.00 target price on the stock.

NewAmsterdam Pharma Trading Down 0.9 %

Shares of NAMS opened at $15.92 on Tuesday. NewAmsterdam Pharma has a 52-week low of $5.63 and a 52-week high of $26.35. The company has a 50-day simple moving average of $16.92 and a 200-day simple moving average of $19.25.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.08. The company had revenue of $2.28 million for the quarter, compared to analyst estimates of $2.20 million. As a group, research analysts anticipate that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jennison Associates LLC purchased a new position in NewAmsterdam Pharma during the first quarter worth $22,015,000. Artal Group S.A. acquired a new stake in shares of NewAmsterdam Pharma during the first quarter valued at $18,920,000. Janus Henderson Group PLC purchased a new stake in NewAmsterdam Pharma during the 1st quarter worth about $15,018,000. Decheng Capital LLC acquired a new position in NewAmsterdam Pharma in the 2nd quarter valued at about $7,684,000. Finally, Opaleye Management Inc. purchased a new position in NewAmsterdam Pharma in the 4th quarter valued at about $2,964,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

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.