Adamas Pharmaceuticals (ADMS) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Adamas Pharmaceuticals (NASDAQ:ADMS) from a sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Adamas Pharmaceuticals, Inc. is a specialty pharmaceutical company driven to improve the lives of those affected by chronic disorders of the central nervous system. The company seeks to achieve this by modifying the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products. Adamas is currently developing ADS-5102, its lead wholly-owned product candidate, for the treatment of levodopa-induced dyskinesia (LID) associated with Parkinson’s disease and for the treatment of major symptoms associated with multiple sclerosis in patients with walking impairment. The company’s portfolio also includes Namzaric and Namenda XR, two approved products with Forest Laboratories Holdings Limited, an indirect wholly-owned subsidiary of Allergan plc. Forest is responsible for marketing both products in the United States under an exclusive license from Adamas. “
Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of Adamas Pharmaceuticals from a sell rating to a strong sell rating in a research note on Tuesday, September 18th. HC Wainwright set a $45.00 price objective on shares of Adamas Pharmaceuticals and gave the stock a buy rating in a research note on Monday, September 17th. ValuEngine lowered shares of Adamas Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Tuesday, August 28th. Bank of America lowered shares of Adamas Pharmaceuticals from a buy rating to a neutral rating and dropped their price objective for the stock from $36.00 to $25.00 in a research note on Friday, October 5th. Finally, Mizuho reissued a buy rating and set a $75.00 price objective on shares of Adamas Pharmaceuticals in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Adamas Pharmaceuticals presently has a consensus rating of Buy and an average price target of $33.50.
Adamas Pharmaceuticals (NASDAQ:ADMS) last announced its earnings results on Thursday, November 1st. The specialty pharmaceutical company reported ($1.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.12. The firm had revenue of $10.61 million for the quarter, compared to analyst estimates of $10.10 million. Adamas Pharmaceuticals had a negative net margin of 617.27% and a negative return on equity of 106.74%. On average, equities analysts expect that Adamas Pharmaceuticals will post -5.2 earnings per share for the current fiscal year.
In other news, CEO Gregory T. Went bought 3,850 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average price of $12.98 per share, for a total transaction of $49,973.00. Following the completion of the purchase, the chief executive officer now owns 182,610 shares in the company, valued at approximately $2,370,277.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Alfred G. Merriweather sold 1,665 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $19.18, for a total transaction of $31,934.70. Following the completion of the transaction, the chief financial officer now owns 25,460 shares in the company, valued at approximately $488,322.80. The disclosure for this sale can be found here. Insiders own 24.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ADMS. Wells Fargo & Company MN lifted its stake in shares of Adamas Pharmaceuticals by 7.5% in the first quarter. Wells Fargo & Company MN now owns 44,138 shares of the specialty pharmaceutical company’s stock worth $1,055,000 after buying an additional 3,090 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Adamas Pharmaceuticals by 12.7% in the first quarter. Northern Trust Corp now owns 223,055 shares of the specialty pharmaceutical company’s stock worth $5,330,000 after buying an additional 25,167 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Adamas Pharmaceuticals by 10.4% in the first quarter. BlackRock Inc. now owns 1,484,793 shares of the specialty pharmaceutical company’s stock worth $35,486,000 after buying an additional 139,385 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Adamas Pharmaceuticals by 20.6% during the first quarter. The Manufacturers Life Insurance Company now owns 13,573 shares of the specialty pharmaceutical company’s stock valued at $324,000 after buying an additional 2,322 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Adamas Pharmaceuticals by 11.2% in the first quarter. California State Teachers Retirement System now owns 26,179 shares of the specialty pharmaceutical company’s stock worth $626,000 after purchasing an additional 2,645 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc discovers, develops, and sells therapies for chronic neurologic disorders. The company's approved/commercial product is GOCOVRI, an amantadine therapy for the treatment of levodopa-induced dyskinesia in patients with Parkinson's disease. Its partnered approved/commercial products include Namzaric (memantine hydrochloride extended-release and donepezil hydrochloride) capsules; and Namenda XR (memantine hydrochloride) extended release capsules for the treatment of moderate to severe Alzheimer's disease.
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