NewAmsterdam Pharma (NASDAQ:NAMS) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report published on Tuesday morning, Benzinga reports. They currently have a $31.00 price objective on the stock.

Separately, TD Cowen started coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, May 15th. They issued a buy rating on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $33.25.

NewAmsterdam Pharma Stock Performance

NAMS stock opened at $17.26 on Tuesday. The stock’s 50 day moving average is $19.05 and its two-hundred day moving average is $20.38. NewAmsterdam Pharma has a 52-week low of $5.63 and a 52-week high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.08). The company had revenue of $1.40 million for the quarter, compared to analyst estimates of $2.95 million. As a group, equities research analysts predict 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 purchased 5,000 shares of NewAmsterdam Pharma stock in a transaction dated Thursday, June 20th. The shares were bought 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 owns 204,784 shares in the company, valued at approximately $3,534,571.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 19.50% of the stock is owned by insiders.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in NewAmsterdam Pharma during the 2nd quarter worth $38,000. Wolverine Asset Management LLC increased its holdings in shares of NewAmsterdam Pharma by 197.2% in the 4th quarter. Wolverine Asset Management LLC now owns 8,694 shares of the company’s stock worth $97,000 after acquiring an additional 5,769 shares during the period. Rosalind Advisors Inc. bought a new stake in NewAmsterdam Pharma in the 2nd quarter valued at about $194,000. Yarbrough Capital LLC acquired a new position in NewAmsterdam Pharma during the 1st quarter valued at about $567,000. Finally, StemPoint Capital LP bought a new position in NewAmsterdam Pharma in the 1st quarter worth about $1,900,000. 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.