Equities research analysts expect Adamis Pharmaceuticals Corp (NASDAQ:ADMP) to report sales of $6.62 million for the current quarter, Zacks reports. Three analysts have made estimates for Adamis Pharmaceuticals’ earnings. The lowest sales estimate is $4.24 million and the highest is $8.22 million. Adamis Pharmaceuticals reported sales of $2.84 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 133.1%. The business is expected to issue its next earnings results on Thursday, March 21st.
According to Zacks, analysts expect that Adamis Pharmaceuticals will report full-year sales of $17.54 million for the current year, with estimates ranging from $15.17 million to $19.15 million. For the next fiscal year, analysts forecast that the company will report sales of $32.82 million, with estimates ranging from $24.08 million to $45.68 million. Zacks’ sales averages are an average based on a survey of analysts that follow Adamis Pharmaceuticals.
Adamis Pharmaceuticals (NASDAQ:ADMP) last issued its quarterly earnings data on Friday, November 9th. The specialty pharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.06). The company had revenue of $3.83 million during the quarter, compared to analyst estimates of $5.39 million. Adamis Pharmaceuticals had a negative net margin of 248.43% and a negative return on equity of 87.64%.
A number of research firms recently weighed in on ADMP. HC Wainwright set a $7.00 price target on Adamis Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, November 13th. Maxim Group set a $10.00 price target on Adamis Pharmaceuticals and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research cut Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Finally, B. Riley cut Adamis Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $7.50 to $2.50 in a report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.20.
NASDAQ ADMP traded up $0.04 during trading hours on Friday, reaching $2.83. The company’s stock had a trading volume of 496,408 shares, compared to its average volume of 731,424. The stock has a market capitalization of $133.83 million, a price-to-earnings ratio of -3.14 and a beta of 0.71. Adamis Pharmaceuticals has a 1-year low of $2.20 and a 1-year high of $5.10.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADMP. First Manhattan Co. acquired a new position in Adamis Pharmaceuticals in the 3rd quarter worth about $11,967,000. BlackRock Inc. raised its holdings in Adamis Pharmaceuticals by 203.2% in the 3rd quarter. BlackRock Inc. now owns 889,440 shares of the specialty pharmaceutical company’s stock worth $3,113,000 after purchasing an additional 596,112 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Adamis Pharmaceuticals by 71.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,200,000 shares of the specialty pharmaceutical company’s stock worth $3,360,000 after purchasing an additional 500,000 shares during the period. Vanguard Group Inc. raised its holdings in Adamis Pharmaceuticals by 27.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,637,513 shares of the specialty pharmaceutical company’s stock worth $5,731,000 after purchasing an additional 348,645 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in Adamis Pharmaceuticals in the 3rd quarter worth about $481,000. 22.37% of the stock is owned by institutional investors.
Adamis Pharmaceuticals Company Profile
Adamis Pharmaceuticals Corporation, a specialty biopharmaceutical company, develops and commercializes products in the therapeutic areas of allergy and respiratory disease in the United States. The company's specialty pharmaceutical product candidates comprise Symjepi (epinephrine) Injection pre-filled syringe (PFS) for use in the emergency treatment of acute allergic reactions, including anaphylaxis.
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