Adamis Pharmaceuticals (ADMP) Shares Down 6.4%

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Adamis Pharmaceuticals Corp (NASDAQ:ADMP)’s share price traded down 6.4% during mid-day trading on Friday . The company traded as low as $2.92 and last traded at $2.93. 563,922 shares traded hands during trading, a decline of 29% from the average session volume of 793,774 shares. The stock had previously closed at $3.13.

A number of equities analysts have recently issued reports on the company. HC Wainwright set a $7.00 price target on Adamis Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, September 10th. Maxim Group increased their price target on Adamis Pharmaceuticals to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 2nd. B. Riley increased their price target on Adamis Pharmaceuticals to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, July 3rd. Finally, Zacks Investment Research raised Adamis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $7.80.

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.54. The company has a market capitalization of $141.40 million, a price-to-earnings ratio of -3.38 and a beta of 0.25.

Adamis Pharmaceuticals (NASDAQ:ADMP) last issued its quarterly earnings data on Friday, August 10th. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.10). The company had revenue of $3.92 million for the quarter, compared to analysts’ expectations of $4.14 million. Adamis Pharmaceuticals had a negative return on equity of 88.96% and a negative net margin of 240.92%. As a group, analysts forecast that Adamis Pharmaceuticals Corp will post -0.78 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ADMP. Northern Trust Corp lifted its stake in shares of Adamis Pharmaceuticals by 50.7% during the 1st 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. Dimensional Fund Advisors LP purchased a new stake in shares of Adamis Pharmaceuticals during the 1st quarter worth $244,000. BlackRock Inc. lifted its stake in shares of Adamis Pharmaceuticals by 7.7% during the 2nd 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. Acropolis Investment Management LLC purchased a new stake in shares of Adamis Pharmaceuticals during the 3rd quarter worth $105,000. Finally, First Manhattan Co. purchased a new stake in shares of Adamis Pharmaceuticals during the 3rd quarter worth $11,967,000. Hedge funds and other institutional investors own 8.49% of the company’s stock.

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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