Adamis Pharmaceuticals (ADMP) Trading 9.6% Higher

Adamis Pharmaceuticals Corp (NASDAQ:ADMP) shares traded up 9.6% on Monday . The company traded as high as $3.20 and last traded at $3.20. 1,408,900 shares were traded during mid-day trading, an increase of 121% from the average session volume of 638,470 shares. The stock had previously closed at $2.92.

A number of research analysts have weighed in on the stock. Maxim Group set a $14.00 price target on shares of Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 5th. B. Riley set a $10.00 price target on shares of Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, November 30th. ValuEngine lowered shares of Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. Finally, Zacks Investment Research raised shares of Adamis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.33.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.79 and a current ratio of 3.93. The stock has a market capitalization of $104.33, a P/E ratio of -4.46 and a beta of 0.19.

A number of institutional investors and hedge funds have recently made changes to their positions in ADMP. Wells Fargo & Company MN bought a new position in Adamis Pharmaceuticals in the second quarter valued at approximately $169,000. Northern Trust Corp lifted its stake in Adamis Pharmaceuticals by 5.5% in the second quarter. Northern Trust Corp now owns 51,108 shares of the specialty pharmaceutical company’s stock valued at $266,000 after buying an additional 2,686 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Adamis Pharmaceuticals by 22.2% in the second quarter. Vanguard Group Inc. now owns 942,940 shares of the specialty pharmaceutical company’s stock worth $4,903,000 after purchasing an additional 171,167 shares in the last quarter. Virtu KCG Holdings LLC lifted its position in shares of Adamis Pharmaceuticals by 103.2% in the second quarter. Virtu KCG Holdings LLC now owns 38,474 shares of the specialty pharmaceutical company’s stock worth $200,000 after purchasing an additional 19,538 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Adamis Pharmaceuticals by 149.9% in the third quarter. Advisor Group Inc. now owns 56,001 shares of the specialty pharmaceutical company’s stock worth $292,000 after purchasing an additional 33,591 shares in the last quarter. 16.70% of the stock is currently owned by hedge funds and other institutional investors.

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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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