Zacks Investment Research Downgrades Adamis Pharmaceuticals (NASDAQ:ADMP) to Hold

Zacks Investment Research downgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a buy rating to a hold rating in a research note 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 equities analysts have also commented on the company. B. Riley raised Adamis Pharmaceuticals from a sell rating to a neutral rating in a report on Tuesday, July 23rd. ValuEngine raised Adamis Pharmaceuticals from a hold rating to a buy rating in a report on Saturday, August 10th. Dawson James started coverage on Adamis Pharmaceuticals in a report on Tuesday, July 2nd. They issued a buy rating for the company. Maxim Group set a $6.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a report on Friday, August 9th. Finally, Raymond James set a $4.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $3.87.

Shares of NASDAQ ADMP opened at $1.03 on Tuesday. The stock has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.92. Adamis Pharmaceuticals has a 1-year low of $0.93 and a 1-year high of $4.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.24.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) earnings per share for the quarter, missing the 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 firm had revenue of $5.77 million for the quarter, compared to the consensus estimate of $5.82 million. Equities research analysts expect that Adamis Pharmaceuticals will post -0.46 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in shares of Adamis Pharmaceuticals in the fourth quarter worth $31,000. Wedbush Securities Inc. bought a new stake in Adamis Pharmaceuticals during the first quarter valued at $39,000. Virtu Financial LLC bought a new stake in Adamis Pharmaceuticals during the first quarter valued at $43,000. National Asset Management Inc. boosted its stake in Adamis Pharmaceuticals by 28.9% during the first quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock valued at $64,000 after buying an additional 6,710 shares during the period. Finally, A.R.T. Advisors LLC boosted its stake in Adamis Pharmaceuticals by 143.8% during the second quarter. A.R.T. Advisors LLC now owns 61,711 shares of the specialty pharmaceutical company’s stock valued at $80,000 after buying an additional 36,400 shares during the period. 19.49% 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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