NewAmsterdam Pharma (NASDAQ:NAMS) Price Target Raised to $50.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its price target upped by equities research analysts at Stifel Nicolaus from $44.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 43.06% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma in a research report on Monday, August 25th. They set an “overweight” rating and a $45.00 target price on the stock. HC Wainwright assumed coverage on shares of NewAmsterdam Pharma in a report on Monday, October 20th. They issued a “buy” rating and a $52.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Needham & Company LLC boosted their price target on NewAmsterdam Pharma from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.90.

NewAmsterdam Pharma Trading Down 1.1%

NASDAQ:NAMS traded down $0.40 during mid-day trading on Tuesday, hitting $34.95. The company had a trading volume of 345,115 shares, compared to its average volume of 950,596. The business has a fifty day simple moving average of $37.24 and a 200-day simple moving average of $28.06. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -17.01 and a beta of 0.05. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Wednesday, November 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The company had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $4.54 million. NewAmsterdam Pharma had a negative net margin of 627.59% and a negative return on equity of 28.30%. As a group, research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of NAMS. Quarry LP bought a new position in shares of NewAmsterdam Pharma in the first quarter valued at approximately $25,000. Mather Group LLC. bought a new position in NewAmsterdam Pharma during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at $30,000. Wolverine Asset Management LLC bought a new stake in shares of NewAmsterdam Pharma in the 3rd quarter worth $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NewAmsterdam Pharma by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company’s stock valued at $79,000 after buying an additional 662 shares during the period. 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.