Zacks Investment Research upgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The brokerage currently has $1.50 target price 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 research firms also recently issued reports on ADMP. Dawson James began coverage on Adamis Pharmaceuticals in a research report on Tuesday, July 2nd. They set a buy rating on the stock. Raymond James restated a buy rating on shares of Canadian Natural Resources in a research report on Friday, May 10th. Finally, Maxim Group set a $10.00 target price on Adamis Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Adamis Pharmaceuticals has an average rating of Buy and an average target price of $5.00.
Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Adamis Pharmaceuticals will post -0.49 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Adamis Pharmaceuticals by 8.4% in the fourth quarter. BlackRock Inc. now owns 963,864 shares of the specialty pharmaceutical company’s stock worth $2,169,000 after buying an additional 74,424 shares in the last quarter. Jane Street Group LLC purchased a new stake in Adamis Pharmaceuticals during the fourth quarter valued at about $31,000. Wedbush Securities Inc. purchased a new stake in Adamis Pharmaceuticals during the first quarter valued at about $39,000. Virtu Financial LLC purchased a new stake in Adamis Pharmaceuticals during the first quarter valued at about $43,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Adamis Pharmaceuticals during the first quarter valued at about $3,360,000. Institutional investors own 21.99% of the company’s stock.
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.
Recommended Story: The benefits and drawbacks of dollar cost averaging
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.