Adamis Pharmaceuticals (NASDAQ:ADMP) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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. “

A number of other research analysts also recently commented on ADMP. Dawson James initiated coverage on shares of Adamis Pharmaceuticals in a report on Tuesday, July 2nd. They issued a buy rating for the company. B. Riley downgraded shares of Kindred Biosciences from a buy rating to a neutral rating and lowered their price objective for the stock from $18.00 to $8.50 in a research note on Tuesday. Raymond James reiterated a buy rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. Finally, Maxim Group set a $10.00 target price on shares of Adamis Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Adamis Pharmaceuticals has a consensus rating of Buy and an average price target of $4.72.

Shares of NASDAQ:ADMP opened at $1.27 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.24 and a debt-to-equity ratio of 0.03. Adamis Pharmaceuticals has a 12 month low of $1.17 and a 12 month high of $4.25. The firm has a 50-day simple moving average of $1.35. The company has a market cap of $59.11 million, a P/E ratio of -1.27 and a beta of 1.36.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its quarterly earnings results on Thursday, May 9th. The specialty pharmaceutical company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). Adamis Pharmaceuticals had a negative net margin of 239.53% and a negative return on equity of 94.94%. The business had revenue of $4.91 million during the quarter, compared to the consensus estimate of $5.95 million. As a group, equities research analysts predict that Adamis Pharmaceuticals will post -0.44 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Adamis Pharmaceuticals during the fourth quarter worth about $31,000. Wedbush Securities Inc. acquired a new position in Adamis Pharmaceuticals in the 1st quarter valued at about $39,000. Virtu Financial LLC acquired a new position in Adamis Pharmaceuticals in the 1st quarter valued at about $43,000. National Asset Management Inc. boosted its holdings in Adamis Pharmaceuticals by 28.9% in the 1st quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock valued at $64,000 after purchasing an additional 6,710 shares during the last quarter. Finally, Barclays PLC acquired a new position in Adamis Pharmaceuticals in the 4th quarter valued at about $110,000. 21.99% of the stock is owned by hedge funds and other institutional investors.

Adamis Pharmaceuticals Company Profile

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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