Citigroup initiated coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $42.00 price objective on the stock.\n\nSeveral other research analysts have also recently issued reports on NAMS. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Stifel Nicolaus initiated coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 10th. They set a “buy” rating and a $44.00 price target for the company. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They set an “overweight” rating and a $42.00 price target for the company. Finally, UBS Group set a $41.00 price target on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.89.\n\nShares of NAMS opened at $18.49 on Tuesday. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -9.84 and a beta of -0.03. The firm has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $20.84.\n\nNewAmsterdam Pharma (NASDAQ:NAMS) last announced its earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 37.34% and a negative net margin of 397.45%. The business had revenue of $2.98 million for the quarter, compared to analyst estimates of $1.46 million. Equities research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.\n\nIn related news, Director James N. Topper bought 1,135 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was bought at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This represents a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.84% of the stock is currently owned by corporate insiders.\n\nA number of hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. increased its stake in shares of NewAmsterdam Pharma by 1.3% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 16,116,418 shares of the company’s stock worth $329,903,000 after purchasing an additional 200,000 shares in the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in shares of NewAmsterdam Pharma by 2.3% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock worth $275,481,000 after purchasing an additional 245,197 shares in the last quarter. RA Capital Management L.P. increased its stake in shares of NewAmsterdam Pharma by 14.6% during the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock worth $207,544,000 after purchasing an additional 1,293,938 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after purchasing an additional 3,412,590 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of NewAmsterdam Pharma by 53.0% during the 1st quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company’s stock worth $72,504,000 after purchasing an additional 1,226,852 shares in the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.\n\nNewAmsterdam 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.

NewAmsterdam Pharma (NASDAQ:NAMS) Now Covered by Citigroup

Citigroup initiated coverage on NewAmsterdam Pharma (NASDAQ:NAMS), issuing a buy rating and $42.00 price target. Other analysts, including Needham & Company, Stifel Nicolaus, and Scotiabank, have also issued reports on the stock. The company's stock opened at $18.49, with a market cap of $2.08 billion and negative earnings results. Director James N. Topper increased his stake, and hedge funds adjusted their holdings. The firm develops therapies for metabolic diseases.