Zacks Investment Research upgraded shares of Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Adamas Pharmaceuticals, Inc. is a specialty pharmaceutical company driven to improve the lives of those affected by chronic disorders of the central nervous system. The company seeks to achieve this by modifying the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products. Adamas is currently developing ADS-5102, its lead wholly-owned product candidate, for the treatment of levodopa-induced dyskinesia (LID) associated with Parkinson’s disease and for the treatment of major symptoms associated with multiple sclerosis in patients with walking impairment. The company’s portfolio also includes Namzaric and Namenda XR, two approved products with Forest Laboratories Holdings Limited, an indirect wholly-owned subsidiary of Allergan plc. Forest is responsible for marketing both products in the United States under an exclusive license from Adamas. “
A number of other research analysts have also commented on the company. Piper Jaffray Companies reissued an overweight rating and set a $30.00 price target on shares of Adamas Pharmaceuticals in a report on Wednesday, October 4th. Noble Financial reaffirmed a buy rating and set a $33.00 target price on shares of Adamas Pharmaceuticals in a research note on Friday, September 29th. Mizuho reaffirmed a buy rating and set a $48.00 target price (up previously from $26.00) on shares of Adamas Pharmaceuticals in a research note on Tuesday, September 19th. Needham & Company LLC reaffirmed a buy rating and set a $38.00 target price on shares of Adamas Pharmaceuticals in a research note on Sunday, September 17th. Finally, ValuEngine raised Adamas Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Adamas Pharmaceuticals presently has a consensus rating of Buy and an average target price of $39.50.
Shares of Adamas Pharmaceuticals (ADMS) traded down 3.23% during midday trading on Tuesday, hitting $19.20. 112,219 shares of the company’s stock traded hands. The company has a 50 day moving average of $21.05 and a 200 day moving average of $17.72. The stock’s market cap is $432.27 million. Adamas Pharmaceuticals has a 52 week low of $12.10 and a 52 week high of $24.18.
Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.12). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.03 million. The business’s revenue for the quarter was down 90.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.78) earnings per share. On average, equities analysts forecast that Adamas Pharmaceuticals will post ($3.77) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Adamas Pharmaceuticals by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 716,419 shares of the specialty pharmaceutical company’s stock valued at $12,537,000 after purchasing an additional 66,825 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Adamas Pharmaceuticals by 212.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 60,897 shares of the specialty pharmaceutical company’s stock valued at $1,066,000 after purchasing an additional 41,436 shares during the period. Emerald Advisers Inc. PA boosted its position in shares of Adamas Pharmaceuticals by 2.7% in the 2nd quarter. Emerald Advisers Inc. PA now owns 532,727 shares of the specialty pharmaceutical company’s stock valued at $9,317,000 after purchasing an additional 14,042 shares during the period. Geode Capital Management LLC boosted its position in shares of Adamas Pharmaceuticals by 4.9% in the 1st quarter. Geode Capital Management LLC now owns 125,793 shares of the specialty pharmaceutical company’s stock valued at $2,201,000 after purchasing an additional 5,920 shares during the period. Finally, Granite Point Capital Management L.P. boosted its position in shares of Adamas Pharmaceuticals by 11.9% in the 2nd quarter. Granite Point Capital Management L.P. now owns 263,515 shares of the specialty pharmaceutical company’s stock valued at $4,609,000 after purchasing an additional 28,000 shares during the period. Institutional investors and hedge funds own 69.16% of the company’s stock.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc is a pharmaceutical company. The Company is engaged in developing medicines to manage the daily lives of those affected by chronic neurologic disorders. It offers a platform based on an understanding of time dependent biologic effects of disease activity and drug response to achieve relief without tolerability issues.
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