NewAmsterdam Pharma (NASDAQ:NAMS) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of NewAmsterdam Pharma (NASDAQ:NAMS) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other analysts have also weighed in on NAMS. Cantor Fitzgerald reiterated an “overweight” rating on shares of NewAmsterdam Pharma in a research report on Thursday, February 19th. Truist Financial began coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, March 18th. They set a “buy” rating and a $57.00 target price on the stock. Needham & Company LLC lifted their target price on shares of NewAmsterdam Pharma from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. HC Wainwright upgraded shares of NewAmsterdam Pharma to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Royal Bank Of Canada lifted their target price on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.00.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock opened at $38.73 on Friday. The firm’s 50-day simple moving average is $31.77 and its 200-day simple moving average is $34.24. NewAmsterdam Pharma has a twelve month low of $16.78 and a twelve month high of $42.00. The firm has a market cap of $4.45 billion, a P/E ratio of -21.64 and a beta of 0.02.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Tuesday, March 31st. The company reported ($0.40) earnings per share for the quarter. NewAmsterdam Pharma had a negative net margin of 943.23% and a negative return on equity of 25.90%. The business had revenue of $3.04 million for the quarter. On average, equities analysts forecast that NewAmsterdam Pharma will post -1.81 earnings per share for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In related news, CEO Michael H. Davidson sold 443,707 shares of NewAmsterdam Pharma stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $33.25, for a total transaction of $14,753,257.75. Following the completion of the transaction, the chief executive officer directly owned 174,144 shares of the company’s stock, valued at $5,790,288. This trade represents a 71.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Louis G. Lange sold 44,619 shares of NewAmsterdam Pharma stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $30.42, for a total transaction of $1,357,309.98. Following the transaction, the director directly owned 10,360 shares of the company’s stock, valued at $315,151.20. This represents a 81.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,168,286 shares of company stock valued at $38,211,967 in the last ninety days. Insiders own 20.84% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in NewAmsterdam Pharma by 50.0% during the 4th quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of NewAmsterdam Pharma by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 102,395 shares of the company’s stock worth $3,590,000 after acquiring an additional 437 shares during the last quarter. Arizona State Retirement System raised its stake in shares of NewAmsterdam Pharma by 3.8% in the third quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $377,000 after acquiring an additional 483 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of NewAmsterdam Pharma by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock worth $197,000 after acquiring an additional 544 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of NewAmsterdam Pharma by 4,425.0% in the fourth quarter. Farther Finance Advisors LLC now owns 724 shares of the company’s stock worth $25,000 after acquiring an additional 708 shares during the last quarter. 89.89% of the stock is owned by institutional investors.

About NewAmsterdam Pharma

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.