Adamis Pharmaceuticals (NASDAQ:ADMP) Shares Gap Up to $0.78
Adamis Pharmaceuticals Corp (NASDAQ:ADMP)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $0.74, but opened at $0.78. Adamis Pharmaceuticals shares last traded at $0.90, with a volume of 3,263,900 shares trading hands.
A number of research analysts have recently weighed in on ADMP shares. Maxim Group set a $6.00 price objective on Adamis Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 9th. B. Riley raised Adamis Pharmaceuticals from a “sell” rating to a “neutral” rating in a report on Tuesday, July 23rd. Dawson James assumed coverage on Adamis Pharmaceuticals in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. ValuEngine downgraded shares of Adamis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research downgraded shares of Adamis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Adamis Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $3.87.
The stock has a market cap of $48.20 million, a PE ratio of -0.90 and a beta of 1.33. The company’s fifty day moving average is $0.99 and its 200-day moving average is $1.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 0.79.
Several hedge funds have recently modified their holdings of ADMP. GSA Capital Partners LLP purchased a new stake in shares of Adamis Pharmaceuticals in the second quarter worth about $181,000. DekaBank Deutsche Girozentrale acquired a new position in Adamis Pharmaceuticals in the first quarter valued at approximately $3,360,000. National Asset Management Inc. lifted its holdings in Adamis Pharmaceuticals by 28.9% in the first quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock valued at $64,000 after acquiring an additional 6,710 shares during the period. Leisure Capital Management lifted its holdings in Adamis Pharmaceuticals by 4.5% in the first quarter. Leisure Capital Management now owns 115,724 shares of the specialty pharmaceutical company’s stock valued at $244,000 after acquiring an additional 4,967 shares during the period. Finally, Morgan Stanley boosted its position in Adamis Pharmaceuticals by 189.7% in the 2nd quarter. Morgan Stanley now owns 757,124 shares of the specialty pharmaceutical company’s stock worth $984,000 after purchasing an additional 495,793 shares in the last quarter. 12.11% of the stock is owned by institutional investors and hedge funds.
About Adamis Pharmaceuticals (NASDAQ:ADMP)
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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