Brokerages Expect Adamis Pharmaceuticals Corp (ADMP) Will Announce Quarterly Sales of $5.95 Million

Equities research analysts predict that Adamis Pharmaceuticals Corp (NASDAQ:ADMP) will report sales of $5.95 million for the current quarter, Zacks reports. Two analysts have made estimates for Adamis Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $5.70 million and the highest estimate coming in at $6.19 million. Adamis Pharmaceuticals posted sales of $3.18 million during the same quarter last year, which suggests a positive year-over-year growth rate of 87.1%. The company is expected to announce its next quarterly earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Adamis Pharmaceuticals will report full year sales of $26.39 million for the current year, with estimates ranging from $24.08 million to $28.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $37.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Adamis Pharmaceuticals.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its earnings results on Thursday, May 9th. The specialty pharmaceutical company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). Adamis Pharmaceuticals had a negative net margin of 258.54% and a negative return on equity of 95.52%.

A number of brokerages recently commented on ADMP. Zacks Investment Research downgraded Adamis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, January 14th. Maxim Group set a $10.00 price objective on Adamis Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, March 19th.

In other Adamis Pharmaceuticals news, VP Karen K. Daniels sold 13,911 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.30, for a total value of $31,995.30. Following the completion of the transaction, the vice president now owns 179,944 shares in the company, valued at $413,871.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dennis J. Phd Carlo sold 13,292 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.27, for a total value of $30,172.84. Following the completion of the transaction, the chief executive officer now owns 42,353 shares of the company’s stock, valued at approximately $96,141.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,329 shares of company stock valued at $121,847. 10.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Adamis Pharmaceuticals by 8.4% in the fourth quarter. BlackRock Inc. now owns 963,864 shares of the specialty pharmaceutical company’s stock worth $2,169,000 after purchasing an additional 74,424 shares in the last quarter. Jane Street Group LLC bought a new position in Adamis Pharmaceuticals in the fourth quarter worth $31,000. Wedbush Securities Inc. bought a new position in Adamis Pharmaceuticals in the first quarter worth $39,000. Vanguard Group Inc raised its holdings in Adamis Pharmaceuticals by 27.1% in the third quarter. Vanguard Group Inc now owns 1,637,513 shares of the specialty pharmaceutical company’s stock worth $5,731,000 after purchasing an additional 348,645 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Adamis Pharmaceuticals in the first quarter worth $43,000. Institutional investors and hedge funds own 17.41% of the company’s stock.

Shares of Adamis Pharmaceuticals stock opened at $2.16 on Friday. The company has a market cap of $108.29 million, a P/E ratio of -2.16 and a beta of 1.35. Adamis Pharmaceuticals has a 52 week low of $1.86 and a 52 week high of $5.10.

About Adamis Pharmaceuticals

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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