Zacks Investment Research Upgrades Adamis Pharmaceuticals (ADMP) to Buy
Adamis Pharmaceuticals (NASDAQ:ADMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $2.75 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.13% from the stock’s current price.
According to Zacks, “Adamis Pharmaceuticals Corporation, formerly Cellegy Pharmaceuticals, Inc., is a specialty pharmaceutical company engaged engages in the research, development, and commercialization of prescription medicines for the treatment of viral infections. Adamis Pharmaceuticals is composed of two wholly owned subsidiaries, Adamis Labs and Adamis Viral Therapies. Adamis Labs is a commercial stage specialty pharmaceutical company targeting high-prescribing physicians in the allergy, respiratory and pediatric medicine market segments. To complement and add to the sales efforts of Adamis Labs, Adamis Viral Therapies is focused on the development of patented, highly-valued proprietary vaccine technology that Adamis believes has the potential to prevent or treat infections such as influenza or chronic hepatitis. Adamis also provides packaging for pharmaceutical and nutraceutical products. The company is headquartered in Del Mar, California. “
Several other research firms also recently commented on ADMP. HC Wainwright set a $7.00 price objective on shares of Adamis Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, November 13th. Maxim Group set a $10.00 target price on shares of Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, December 7th. Finally, B. Riley cut shares of Adamis Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $7.50 to $2.50 in a research report on Monday, November 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $5.85.
Adamis Pharmaceuticals (NASDAQ:ADMP) last issued its quarterly earnings results on Friday, November 9th. The specialty pharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.06). Adamis Pharmaceuticals had a negative return on equity of 87.64% and a negative net margin of 248.43%. The firm had revenue of $3.83 million during the quarter, compared to analyst estimates of $5.39 million. Equities research analysts predict that Adamis Pharmaceuticals will post -0.9 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. First Manhattan Co. purchased a new position in shares of Adamis Pharmaceuticals during the 3rd quarter worth approximately $11,967,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Adamis Pharmaceuticals by 71.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,200,000 shares of the specialty pharmaceutical company’s stock worth $3,360,000 after purchasing an additional 500,000 shares during the period. Acropolis Investment Management LLC purchased a new position in shares of Adamis Pharmaceuticals during the 3rd quarter worth $105,000. BlackRock Inc. lifted its stake in shares of Adamis Pharmaceuticals by 7.7% during the 2nd quarter. BlackRock Inc. now owns 293,328 shares of the specialty pharmaceutical company’s stock worth $939,000 after purchasing an additional 20,871 shares during the period. Finally, Perceptive Advisors LLC purchased a new position in shares of Adamis Pharmaceuticals in the 3rd quarter worth $481,000. 22.37% of the stock is owned by hedge funds and other institutional investors.
Adamis Pharmaceuticals Company Profile
Adamis Pharmaceuticals Corporation, a specialty biopharmaceutical company, develops and commercializes products in the therapeutic areas of allergy and respiratory disease in the United States. The company's specialty pharmaceutical product candidates comprise Symjepi (epinephrine) Injection pre-filled syringe (PFS) for use in the emergency treatment of acute allergic reactions, including anaphylaxis.
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