Shares of Adamis Pharmaceuticals Corp (NASDAQ:ADMP) fell 6.1% during trading on Wednesday . The company traded as low as $1.06 and last traded at $1.08, 643,081 shares were traded during mid-day trading. An increase of 53% from the average session volume of 419,930 shares. The stock had previously closed at $1.15.
Several research firms have recently issued reports on ADMP. Maxim Group set a $6.00 price objective on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 9th. Raymond James set a $4.00 price objective on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, May 10th. Dawson James began coverage on Adamis Pharmaceuticals in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. ValuEngine raised Adamis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, B. Riley raised Adamis Pharmaceuticals from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $3.87.
The company’s 50 day moving average is $1.19. The company has a current ratio of 1.53, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $54.31 million, a P/E ratio of -1.08 and a beta of 1.28.
Adamis Pharmaceuticals (NASDAQ:ADMP) last released its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). Adamis Pharmaceuticals had a negative net margin of 205.32% and a negative return on equity of 79.65%. The firm had revenue of $5.77 million during the quarter, compared to analyst estimates of $5.82 million. On average, analysts anticipate that Adamis Pharmaceuticals Corp will post -0.43 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Leisure Capital Management increased its position in Adamis Pharmaceuticals by 4.5% during the 1st quarter. Leisure Capital Management now owns 115,724 shares of the specialty pharmaceutical company’s stock valued at $244,000 after purchasing an additional 4,967 shares during the period. National Asset Management Inc. increased its position in Adamis Pharmaceuticals by 28.9% during the 1st quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock valued at $64,000 after purchasing an additional 6,710 shares during the period. Jane Street Group LLC acquired a new stake in Adamis Pharmaceuticals during the 4th quarter valued at approximately $31,000. BlackRock Inc. increased its position in Adamis Pharmaceuticals by 1.5% during the 2nd quarter. BlackRock Inc. now owns 962,687 shares of the specialty pharmaceutical company’s stock valued at $1,252,000 after purchasing an additional 14,312 shares during the period. Finally, Raymond James & Associates increased its position in Adamis Pharmaceuticals by 56.5% during the 4th quarter. Raymond James & Associates now owns 49,596 shares of the specialty pharmaceutical company’s stock valued at $112,000 after purchasing an additional 17,900 shares during the period. 19.49% of the stock is owned by institutional investors and hedge funds.
Adamis Pharmaceuticals Company Profile (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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