Zacks Investment Research upgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. The firm currently has $1.50 price objective on the specialty pharmaceutical company’s stock.
According to Zacks, “Adamis Pharmaceuticals Corporation, formerly Cellegy Pharmaceuticals, Inc., is a specialty pharmaceutical company engaged engages in the research, development, and commercialization of prescription medicines for the treatment of viral infections. Adamis Pharmaceuticals is composed of two wholly owned subsidiaries, Adamis Labs and Adamis Viral Therapies. Adamis Labs is a commercial stage specialty pharmaceutical company targeting high-prescribing physicians in the allergy, respiratory and pediatric medicine market segments. To complement and add to the sales efforts of Adamis Labs, Adamis Viral Therapies is focused on the development of patented, highly-valued proprietary vaccine technology that Adamis believes has the potential to prevent or treat infections such as influenza or chronic hepatitis. Adamis also provides packaging for pharmaceutical and nutraceutical products. The company is headquartered in Del Mar, California. “
Several other analysts have also recently issued reports on the stock. Raymond James reaffirmed a buy rating on shares of Canadian Natural Resources in a report on Friday, May 10th. Dawson James assumed coverage on shares of Adamis Pharmaceuticals in a report on Tuesday, July 2nd. They issued a buy rating on the stock. Finally, Maxim Group set a $10.00 price target on shares of Adamis Pharmaceuticals and gave the company a buy rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $5.00.
Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its earnings results on Thursday, May 9th. The specialty pharmaceutical company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.04). The firm had revenue of $4.91 million during the quarter, compared to analysts’ expectations of $5.95 million. Adamis Pharmaceuticals had a negative net margin of 239.53% and a negative return on equity of 94.94%. On average, research analysts predict that Adamis Pharmaceuticals will post -0.44 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of ADMP. Jane Street Group LLC acquired a new stake in Adamis Pharmaceuticals in the fourth quarter valued at $31,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Adamis Pharmaceuticals in the fourth quarter valued at $36,000. Wedbush Securities Inc. acquired a new stake in Adamis Pharmaceuticals in the first quarter valued at $39,000. Virtu Financial LLC acquired a new stake in Adamis Pharmaceuticals in the first quarter valued at $43,000. Finally, National Asset Management Inc. raised its holdings in Adamis Pharmaceuticals by 28.9% in the first quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock valued at $64,000 after acquiring an additional 6,710 shares in the last quarter. 21.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Story: What are the benefits of a portfolio tracker?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Adamis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adamis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.