Maxim Group restated their buy rating on shares of Adamis Pharmaceuticals (NASDAQ:ADMP) in a research note released on Wednesday, September 12th. They currently have a $13.00 target price on the specialty pharmaceutical company’s stock.
“The PDUFA date for Symjepi jr. (0.15mg) is approaching on 9/27/18, we expect a positive response from the FDA. Symjepi (0.3mg & 0.15mg) is partnered to Sandoz-Novartis (NVS – NR). Our expectation is that Sandoz will launch both Symjepi products sometime in the second half following low-dose approval (though precise timing has not been announced).”,” the firm’s analyst commented.
Other research analysts have also issued reports about the company. HC Wainwright set a $7.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a report on Monday, September 10th. B. Riley upped their price target on Adamis Pharmaceuticals to $7.50 and gave the stock a buy rating in a report on Tuesday, July 3rd. Finally, Zacks Investment Research upgraded Adamis Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $7.80.
ADMP traded down $0.01 during trading on Wednesday, reaching $3.10. The company had a trading volume of 413,342 shares, compared to its average volume of 813,169. The company has a current ratio of 0.78, a quick ratio of 0.54 and a debt-to-equity ratio of 0.09. Adamis Pharmaceuticals has a 12-month low of $2.20 and a 12-month high of $5.85. The stock has a market capitalization of $165.52 million, a P/E ratio of -3.44 and a beta of 0.24.
Adamis Pharmaceuticals (NASDAQ:ADMP) last released its earnings results on Friday, August 10th. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.10). The business had revenue of $3.92 million for the quarter, compared to analysts’ expectations of $4.14 million. Adamis Pharmaceuticals had a negative net margin of 240.92% and a negative return on equity of 88.96%. On average, research analysts predict that Adamis Pharmaceuticals will post -0.78 earnings per share for the current year.
A number of large investors have recently made changes to their positions in ADMP. Acropolis Investment Management LLC bought a new stake in Adamis Pharmaceuticals in the third quarter valued at $105,000. Dimensional Fund Advisors LP bought a new stake in shares of Adamis Pharmaceuticals during the first quarter worth $244,000. Northern Trust Corp grew its holdings in shares of Adamis Pharmaceuticals by 50.7% during the first quarter. Northern Trust Corp now owns 139,536 shares of the specialty pharmaceutical company’s stock worth $489,000 after purchasing an additional 46,924 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Adamis Pharmaceuticals by 7.7% during the second 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 last quarter. Hedge funds and other institutional investors own 8.36% 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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