Adamas Pharmaceuticals (NASDAQ:ADMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $6.25 price objective on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.84% from the company’s current price.
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. “
ADMS has been the topic of a number of other research reports. Needham & Company LLC downgraded shares of Adamas Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. BidaskClub raised shares of Adamas Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, February 15th. HC Wainwright set a $40.00 price objective on shares of Adamas Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, March 5th. ValuEngine downgraded shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, Mizuho downgraded shares of Adamas Pharmaceuticals from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $11.00 to $5.00 in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.28.
Adamas Pharmaceuticals (NASDAQ:ADMS) last released its quarterly earnings data on Thursday, May 9th. The specialty pharmaceutical company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.05. The firm had revenue of $11.67 million for the quarter, compared to the consensus estimate of $12.78 million. Adamas Pharmaceuticals had a negative net margin of 291.22% and a negative return on equity of 108.71%. On average, equities research analysts expect that Adamas Pharmaceuticals will post -4.14 earnings per share for the current year.
In other Adamas Pharmaceuticals news, CEO Gregory T. Went sold 6,319 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $7.99, for a total value of $50,488.81. Following the sale, the chief executive officer now owns 176,291 shares of the company’s stock, valued at $1,408,565.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,361 shares of company stock worth $66,816 in the last ninety days. Insiders own 24.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new position in Adamas Pharmaceuticals during the first quarter worth approximately $33,000. PNC Financial Services Group Inc. purchased a new stake in Adamas Pharmaceuticals in the 1st quarter worth approximately $43,000. First Mercantile Trust Co. lifted its holdings in Adamas Pharmaceuticals by 43.2% in the 4th quarter. First Mercantile Trust Co. now owns 5,765 shares of the specialty pharmaceutical company’s stock worth $49,000 after buying an additional 1,740 shares during the period. Advisor Group Inc. lifted its holdings in Adamas Pharmaceuticals by 252.0% in the 4th quarter. Advisor Group Inc. now owns 6,300 shares of the specialty pharmaceutical company’s stock worth $54,000 after buying an additional 4,510 shares during the period. Finally, Creative Planning purchased a new stake in Adamas Pharmaceuticals in the 1st quarter worth approximately $144,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc focuses on the discovery, development, and commercialization of medicines for patients suffering from chronic neurologic disorders. The company offers GOCOVRI, an extended release capsule for the treatment of dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications.
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