Maxim Group set a $5.00 price objective on Adamis Pharmaceuticals (NASDAQ:ADMP) in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the specialty pharmaceutical company’s stock.
“We have not had any recent news on the launch and other developments associated with Symjepi. As a result, we are increasing our therapeutics risk cut to 30%, from 25%, in our Epinephrine Pre-Filled syringe model, commercial assumptions. In addition, we are also pushing-out our timing back for the other” pipeline products models which include APC-1000, APC-2000 and APC-5000 inhalers. The result of these changes is our price target falls to $5, from $14.”,” the firm’s analyst wrote.
A number of other equities analysts also recently commented on ADMP. B. Riley set a $10.00 target price on shares of Adamis Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Adamis Pharmaceuticals from a hold rating to a sell rating in a research note on Monday, November 20th. Finally, ValuEngine downgraded shares of Adamis Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $7.33.
Adamis Pharmaceuticals (NASDAQ ADMP) opened at $3.45 on Wednesday. Adamis Pharmaceuticals has a one year low of $3.20 and a one year high of $6.45. The company has a current ratio of 3.93, a quick ratio of 3.79 and a debt-to-equity ratio of 0.06.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADMP. Wells Fargo & Company MN acquired a new stake in Adamis Pharmaceuticals during the 2nd quarter valued at $169,000. Northern Trust Corp grew its holdings in Adamis Pharmaceuticals by 5.5% during the 2nd quarter. Northern Trust Corp now owns 51,108 shares of the specialty pharmaceutical company’s stock valued at $266,000 after purchasing an additional 2,686 shares in the last quarter. Vanguard Group Inc. grew its holdings in Adamis Pharmaceuticals by 22.2% during the 2nd quarter. Vanguard Group Inc. now owns 942,940 shares of the specialty pharmaceutical company’s stock valued at $4,903,000 after purchasing an additional 171,167 shares in the last quarter. Virtu KCG Holdings LLC grew its holdings in Adamis Pharmaceuticals by 103.2% during the 2nd quarter. Virtu KCG Holdings LLC now owns 38,474 shares of the specialty pharmaceutical company’s stock valued at $200,000 after purchasing an additional 19,538 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in Adamis Pharmaceuticals by 149.9% during the 3rd quarter. Advisor Group Inc. now owns 56,001 shares of the specialty pharmaceutical company’s stock valued at $292,000 after purchasing an additional 33,591 shares in the last quarter. 16.54% of the stock is owned by institutional investors and hedge funds.
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About Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M).
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