Adamis Pharmaceuticals (ADMP) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $2.75 price target on the specialty pharmaceutical company’s stock.
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. “
ADMP has been the topic of a number of other research reports. HC Wainwright set a $7.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, November 13th. Maxim Group set a $10.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a research report on Friday, December 7th. Finally, B. Riley cut Adamis Pharmaceuticals from a buy rating to a neutral rating and decreased their price target for the stock 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 given a buy rating to the company. The company presently has an average 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) 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 company had revenue of $3.83 million during the quarter, compared to the consensus estimate of $5.39 million. On average, analysts expect that Adamis Pharmaceuticals will post -0.9 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Manhattan Co. bought a new position in shares of Adamis Pharmaceuticals in the third quarter worth $11,967,000. DekaBank Deutsche Girozentrale boosted its stake in Adamis Pharmaceuticals by 71.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,200,000 shares of the specialty pharmaceutical company’s stock valued at $3,360,000 after buying an additional 500,000 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in Adamis Pharmaceuticals in the third quarter valued at about $105,000. BlackRock Inc. boosted its stake in Adamis Pharmaceuticals by 7.7% in the second quarter. BlackRock Inc. now owns 293,328 shares of the specialty pharmaceutical company’s stock valued at $939,000 after buying an additional 20,871 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in Adamis Pharmaceuticals in the third quarter valued at about $481,000. Institutional investors own 22.37% of the company’s stock.
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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