NewAmsterdam Pharma (NASDAQ:NAMS) Receives “Buy” Rating from Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $36.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 79.91% from the company’s current price.

A number of other brokerages have also recently commented on NAMS. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Price Performance

NAMS stock opened at $20.01 on Thursday. The company’s 50-day moving average is $18.90 and its 200-day moving average is $18.62. NewAmsterdam Pharma has a 1 year low of $8.90 and a 1 year high of $26.35.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the sale, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,803 shares of company stock worth $1,755,307 over the last 90 days. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently added to or reduced their stakes in NAMS. Janus Henderson Group PLC bought a new position in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $15,018,000. abrdn plc increased its position in shares of NewAmsterdam Pharma by 69.8% during the third quarter. abrdn plc now owns 129,060 shares of the company’s stock valued at $2,142,000 after acquiring an additional 53,060 shares during the last quarter. Millennium Management LLC lifted its holdings in NewAmsterdam Pharma by 23.0% during the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after acquiring an additional 217,902 shares during the period. Banque Cantonale Vaudoise purchased a new position in NewAmsterdam Pharma in the second quarter worth $38,000. Finally, Deerfield Management Company L.P. Series C grew its stake in NewAmsterdam Pharma by 30.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after purchasing an additional 202,250 shares during the period. 89.89% of the stock is 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.