B. Riley reissued their buy rating on shares of Adamis Pharmaceuticals (NASDAQ:ADMP) in a report published on Wednesday, March 14th. B. Riley also issued estimates for Adamis Pharmaceuticals’ Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at ($0.80) EPS, Q1 2018 earnings at ($0.15) EPS, Q2 2018 earnings at ($0.15) EPS, Q3 2018 earnings at ($0.19) EPS, Q4 2018 earnings at ($0.18) EPS, FY2018 earnings at ($0.67) EPS, FY2019 earnings at ($0.60) EPS, FY2020 earnings at ($0.53) EPS, FY2021 earnings at ($0.41) EPS and FY2022 earnings at ($0.20) EPS.
Several other research analysts also recently commented on the company. Maxim Group set a $5.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, March 6th. Raymond James Financial set a $7.00 price target on Adamis Pharmaceuticals and gave the stock a buy rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded Adamis Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, January 16th. Finally, ValuEngine cut Adamis Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $6.50.
Shares of ADMP stock traded up $0.03 during trading on Wednesday, reaching $3.45. The company had a trading volume of 260,572 shares, compared to its average volume of 574,935. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.44. Adamis Pharmaceuticals has a one year low of $2.35 and a one year high of $6.45. The company has a market capitalization of $115.19, a price-to-earnings ratio of -3.83 and a beta of 0.32.
A number of hedge funds have recently made changes to their positions in ADMP. B. Riley Financial Inc. acquired a new stake in Adamis Pharmaceuticals in the 4th quarter valued at $1,022,000. Vanguard Group Inc. boosted its stake in Adamis Pharmaceuticals by 22.2% in the 2nd quarter. Vanguard Group Inc. now owns 942,940 shares of the specialty pharmaceutical company’s stock valued at $4,903,000 after buying an additional 171,167 shares in the last quarter. EAM Investors LLC boosted its stake in Adamis Pharmaceuticals by 58.3% in the third quarter. EAM Investors LLC now owns 371,732 shares of the specialty pharmaceutical company’s stock worth $1,942,000 after purchasing an additional 136,970 shares in the last quarter. Virtu Financial LLC acquired a new position in Adamis Pharmaceuticals in the fourth quarter worth $442,000. Finally, Granite Investment Partners LLC acquired a new position in Adamis Pharmaceuticals in the third quarter worth $457,000. 12.42% of the stock is currently 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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