Shares of Adamas Pharmaceuticals Inc (NASDAQ:ADMS) dropped 29.9% on Friday . The company traded as low as $11.70 and last traded at $11.89. Approximately 4,111,247 shares changed hands during trading, an increase of 456% from the average daily volume of 739,017 shares. The stock had previously closed at $16.97.
ADMS has been the subject of a number of analyst reports. HC Wainwright initiated coverage on shares of Adamas Pharmaceuticals in a report on Monday, July 16th. They set a “buy” rating and a $45.00 target price for the company. BidaskClub upgraded shares of Adamas Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 17th. Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Adamas Pharmaceuticals in a research note on Friday, August 17th. ValuEngine downgraded shares of Adamas Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 28th. Finally, Bank of America downgraded shares of Adamas Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $25.00 in a research note on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.00.
The company has a market capitalization of $430.15 million, a PE ratio of -2.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.74 and a current ratio of 9.92.
Adamas Pharmaceuticals (NASDAQ:ADMS) last released its quarterly earnings results on Thursday, November 1st. The specialty pharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.34) by $0.12. Adamas Pharmaceuticals had a negative net margin of 1,138.59% and a negative return on equity of 104.86%. The company had revenue of $10.61 million during the quarter, compared to the consensus estimate of $10.10 million. On average, equities analysts anticipate that Adamas Pharmaceuticals Inc will post -5.37 EPS for the current fiscal year.
In related news, CFO Alfred G. Merriweather sold 1,665 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $19.18, for a total value of $31,934.70. Following the completion of the transaction, the chief financial officer now directly owns 25,460 shares of the company’s stock, valued at $488,322.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 24.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in shares of Adamas Pharmaceuticals during the second quarter valued at approximately $130,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Adamas Pharmaceuticals by 43.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,606 shares of the specialty pharmaceutical company’s stock valued at $196,000 after purchasing an additional 2,293 shares in the last quarter. Sei Investments Co. increased its stake in shares of Adamas Pharmaceuticals by 49.8% during the first quarter. Sei Investments Co. now owns 7,627 shares of the specialty pharmaceutical company’s stock valued at $182,000 after purchasing an additional 2,536 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Adamas Pharmaceuticals during the second quarter valued at approximately $203,000. Finally, GSA Capital Partners LLP bought a new position in shares of Adamas Pharmaceuticals during the second quarter valued at approximately $212,000. 95.23% of the stock is owned by institutional investors and hedge funds.
Adamas Pharmaceuticals Company Profile (NASDAQ:ADMS)
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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