Adamis Pharmaceuticals (ADMP) PT Raised to $7.50

Adamis Pharmaceuticals (NASDAQ:ADMP) had its price target hoisted by analysts at B. Riley from $6.25 to $7.50 in a research report issued on Friday. The brokerage currently has a “buy” rating on the specialty pharmaceutical company’s stock. B. Riley’s target price suggests a potential upside of 114.29% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Maxim Group set a $5.00 price target on Adamis Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, February 14th. ValuEngine lowered Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. Zacks Investment Research raised Adamis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Raymond James Financial set a $7.00 price target on Adamis Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Adamis Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $6.50.

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Shares of Adamis Pharmaceuticals (NASDAQ ADMP) opened at $3.50 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.44 and a quick ratio of 3.79. Adamis Pharmaceuticals has a 52 week low of $2.35 and a 52 week high of $6.45.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Adamis Pharmaceuticals by 131.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,464 shares of the specialty pharmaceutical company’s stock valued at $143,000 after acquiring an additional 15,577 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Adamis Pharmaceuticals by 1,050.3% in the 4th quarter. Wells Fargo & Company MN now owns 28,182 shares of the specialty pharmaceutical company’s stock valued at $124,000 after acquiring an additional 25,732 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Adamis Pharmaceuticals by 5.5% in the 2nd quarter. Northern Trust Corp now owns 51,108 shares of the specialty pharmaceutical company’s stock valued at $266,000 after acquiring an additional 2,686 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Adamis Pharmaceuticals by 149.9% in the 3rd quarter. Advisor Group Inc. now owns 56,001 shares of the specialty pharmaceutical company’s stock valued at $292,000 after acquiring an additional 33,591 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new stake in shares of Adamis Pharmaceuticals in the 3rd quarter valued at about $457,000. 12.42% of the stock is owned by institutional investors.

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Adamis Pharmaceuticals Company Profile

Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M).

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