NewAmsterdam Pharma’s (NAMS) “Buy” Rating Reaffirmed at Needham & Company LLC

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

Several other equities analysts have also commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Trading Down 15.5 %

Shares of NewAmsterdam Pharma stock opened at $20.01 on Thursday. NewAmsterdam Pharma has a twelve month low of $8.90 and a twelve month high of $26.35. The company has a 50-day simple moving average of $18.90 and a two-hundred day simple moving average of $18.62.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a filing with the SEC, which is available through 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 value of $834,486.84. Following the completion of the sale, the insider now directly owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,803 shares of company stock worth $1,755,307 in the last quarter. 19.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently modified their holdings of NAMS. Janus Henderson Group PLC acquired a new position in NewAmsterdam Pharma in the first quarter valued at $15,018,000. abrdn plc raised its position in shares of NewAmsterdam Pharma by 69.8% in the 3rd quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after acquiring an additional 53,060 shares in the last quarter. Millennium Management LLC lifted its stake in shares of NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after purchasing an additional 217,902 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter valued at about $38,000. Finally, Deerfield Management Company L.P. Series C boosted its position in shares of NewAmsterdam Pharma by 30.3% during 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 in the last quarter. 89.89% of the stock is owned by institutional investors.

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.