New York State Common Retirement Fund lowered its holdings in shares of Adamas Pharmaceuticals Inc (NASDAQ:ADMS) by 18.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,100 shares of the specialty pharmaceutical company’s stock after selling 4,189 shares during the period. New York State Common Retirement Fund’s holdings in Adamas Pharmaceuticals were worth $433,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Granite Springs Asset Management LLC acquired a new stake in Adamas Pharmaceuticals during the 4th quarter worth $207,000. MetLife Investment Advisors LLC acquired a new stake in Adamas Pharmaceuticals during the 4th quarter worth $239,000. DekaBank Deutsche Girozentrale acquired a new stake in Adamas Pharmaceuticals during the 1st quarter worth $227,000. Clear Harbor Asset Management LLC acquired a new stake in Adamas Pharmaceuticals during the 1st quarter worth $368,000. Finally, Highland Capital Management LP acquired a new stake in Adamas Pharmaceuticals during the 4th quarter worth $593,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.
ADMS stock opened at $25.33 on Wednesday. Adamas Pharmaceuticals Inc has a one year low of $13.50 and a one year high of $44.00. The company has a current ratio of 9.85, a quick ratio of 9.73 and a debt-to-equity ratio of 0.63.
Adamas Pharmaceuticals (NASDAQ:ADMS) last released its earnings results on Thursday, May 3rd. The specialty pharmaceutical company reported ($1.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.37) by $0.02. Adamas Pharmaceuticals had a negative net margin of 3,470.97% and a negative return on equity of 101.94%. The company had revenue of $2.55 million during the quarter, compared to analysts’ expectations of $1.71 million. equities research analysts predict that Adamas Pharmaceuticals Inc will post -5.79 EPS for the current year.
In other news, insider Jennifer J. Rhodes sold 1,002 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $25.48, for a total value of $25,530.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Richard King sold 2,501 shares of the firm’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $25.48, for a total transaction of $63,725.48. The disclosure for this sale can be found here. 24.60% of the stock is currently owned by company insiders.
A number of analysts recently weighed in on ADMS shares. BidaskClub upgraded shares of Adamas Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Bank of America started coverage on shares of Adamas Pharmaceuticals in a research note on Tuesday, March 27th. They set a “buy” rating and a $39.00 price target for the company. ValuEngine upgraded shares of Adamas Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Leerink Swann started coverage on shares of Adamas Pharmaceuticals in a research note on Wednesday, April 4th. They set an “outperform” rating and a $31.00 price target for the company. Finally, Mizuho reiterated a “buy” rating and set a $49.00 price target on shares of Adamas Pharmaceuticals in a research note on Friday, April 20th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Adamas Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $42.11.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc discovers, develops, and sells therapies for chronic neurologic disorders. The company's approved/commercial product is GOCOVRI, an amantadine therapy for the treatment of levodopa-induced dyskinesia in patients with Parkinson's disease. Its partnered approved/commercial products include Namzaric (memantine hydrochloride extended-release and donepezil hydrochloride) capsules; and Namenda XR (memantine hydrochloride) extended release capsules for the treatment of moderate to severe Alzheimer's disease.
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