Adamas Pharmaceuticals Inc (ADMS) Sees Significant Decrease in Short Interest

Adamas Pharmaceuticals Inc (NASDAQ:ADMS) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,608,809 shares, a decrease of 1.4% from the February 28th total of 3,659,572 shares. Based on an average trading volume of 130,210 shares, the days-to-cover ratio is currently 27.7 days.

In other news, CEO Gregory T. Went sold 2,807 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $17.03, for a total value of $47,803.21. Following the transaction, the chief executive officer now owns 166,526 shares of the company’s stock, valued at $2,835,937.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 4,256 shares of company stock worth $72,480. 31.79% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Adamas Pharmaceuticals by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 163,450 shares of the specialty pharmaceutical company’s stock valued at $2,683,000 after buying an additional 7,651 shares in the last quarter. Sio Capital Management LLC increased its position in shares of Adamas Pharmaceuticals by 17.0% in the third quarter. Sio Capital Management LLC now owns 66,110 shares of the specialty pharmaceutical company’s stock valued at $1,085,000 after buying an additional 9,610 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Adamas Pharmaceuticals by 2.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 571,789 shares of the specialty pharmaceutical company’s stock valued at $9,383,000 after buying an additional 11,910 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Adamas Pharmaceuticals during the third quarter valued at approximately $219,000. Finally, Opus Point Partners Management LLC boosted its stake in Adamas Pharmaceuticals by 32.7% in the third quarter. Opus Point Partners Management LLC now owns 60,000 shares of the specialty pharmaceutical company’s stock valued at $985,000 after buying an additional 14,802 shares during the last quarter. Hedge funds and other institutional investors own 75.44% of the company’s stock.

Shares of Adamas Pharmaceuticals (NASDAQ:ADMS) traded down 0.13% during midday trading on Thursday, reaching $15.65. The company’s stock had a trading volume of 85,509 shares. The company’s market capitalization is $347.73 million. The stock’s 50-day moving average is $17.08 and its 200-day moving average is $16.26. Adamas Pharmaceuticals has a one year low of $12.10 and a one year high of $19.50.

Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings data on Tuesday, February 28th. The specialty pharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.12. Adamas Pharmaceuticals had a negative return on equity of 38.31% and a negative net margin of 5,267.99%. The firm earned $0.04 million during the quarter, compared to the consensus estimate of $0.17 million. During the same period in the previous year, the firm posted ($0.58) EPS. The company’s quarterly revenue was down 92.6% compared to the same quarter last year. On average, equities analysts expect that Adamas Pharmaceuticals will post ($3.26) earnings per share for the current fiscal year.

Several analysts recently issued reports on the company. Mizuho reiterated a “buy” rating and set a $26.00 target price on shares of Adamas Pharmaceuticals in a research report on Thursday, January 5th. Zacks Investment Research cut Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, February 16th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Adamas Pharmaceuticals has an average rating of “Buy” and a consensus price target of $28.33.

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About Adamas Pharmaceuticals

Adamas Pharmaceuticals, Inc is a pharmaceutical company. The Company is engaged in developing medicines to manage the daily lives of those affected by chronic neurologic disorders. It offers a platform based on an understanding of time dependent biologic effects of disease activity and drug response to achieve relief without tolerability issues.

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