Adamis Pharmaceuticals (NASDAQ:ADMP) Shares Up 30.9%

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Adamis Pharmaceuticals Corp (NASDAQ:ADMP)’s stock price shot up 30.9% during mid-day trading on Wednesday . The stock traded as high as $0.73 and last traded at $0.72, 3,341,655 shares traded hands during mid-day trading. An increase of 508% from the average session volume of 549,743 shares. The stock had previously closed at $0.55.

Several brokerages have recently issued reports on ADMP. Dawson James began coverage on Adamis Pharmaceuticals in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. Maxim Group set a $6.00 target price on Adamis Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 9th. B. Riley raised Adamis Pharmaceuticals from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 23rd. Zacks Investment Research raised Adamis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, ValuEngine lowered Adamis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Adamis Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $3.87.

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 1.04. The company has a market cap of $34.26 million, a P/E ratio of -0.72 and a beta of 1.36. The stock has a 50-day moving average of $0.69 and a two-hundred day moving average of $1.27.

Adamis Pharmaceuticals (NASDAQ:ADMP) last posted its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Zacks’ 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 86.04%. The company had revenue of $5.77 million for the quarter, compared to the consensus estimate of $5.82 million. Research analysts predict that Adamis Pharmaceuticals Corp will post -0.46 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in shares of Adamis Pharmaceuticals in the 2nd quarter worth $181,000. A.R.T. Advisors LLC increased its holdings in shares of Adamis Pharmaceuticals by 143.8% in the 2nd quarter. A.R.T. Advisors LLC now owns 61,711 shares of the specialty pharmaceutical company’s stock worth $80,000 after purchasing an additional 36,400 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Adamis Pharmaceuticals by 94.2% in the 3rd quarter. Wedbush Securities Inc. now owns 86,600 shares of the specialty pharmaceutical company’s stock worth $61,000 after purchasing an additional 42,000 shares in the last quarter. Morgan Stanley increased its holdings in shares of Adamis Pharmaceuticals by 189.7% in the 2nd quarter. Morgan Stanley now owns 757,124 shares of the specialty pharmaceutical company’s stock worth $984,000 after purchasing an additional 495,793 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Adamis Pharmaceuticals by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,791,266 shares of the specialty pharmaceutical company’s stock worth $2,328,000 after purchasing an additional 77,498 shares in the last quarter. 12.09% of the stock is owned by institutional investors.

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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