Zacks Investment Research Upgrades Adamis Pharmaceuticals (ADMP) to Hold

Adamis Pharmaceuticals (NASDAQ:ADMP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Adamis Pharmaceuticals Corporation, formerly Cellegy Pharmaceuticals, Inc., is a specialty pharmaceutical company engaged engages in the research, development, and commercialization of prescription medicines for the treatment of viral infections. Adamis Pharmaceuticals is composed of two wholly owned subsidiaries, Adamis Labs and Adamis Viral Therapies. Adamis Labs is a commercial stage specialty pharmaceutical company targeting high-prescribing physicians in the allergy, respiratory and pediatric medicine market segments. To complement and add to the sales efforts of Adamis Labs, Adamis Viral Therapies is focused on the development of patented, highly-valued proprietary vaccine technology that Adamis believes has the potential to prevent or treat infections such as influenza or chronic hepatitis. Adamis also provides packaging for pharmaceutical and nutraceutical products. The company is headquartered in Del Mar, California. “

Several other equities research analysts have also issued reports on ADMP. ValuEngine lowered Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. B. Riley reissued a “buy” rating and set a $9.50 price objective on shares of Adamis Pharmaceuticals in a research note on Wednesday, October 4th. Finally, Maxim Group set a $14.00 price objective on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.33.

Adamis Pharmaceuticals (NASDAQ:ADMP) traded down $0.05 during trading on Tuesday, hitting $4.10. The stock had a trading volume of 530,200 shares, compared to its average volume of 615,709. Adamis Pharmaceuticals has a 52-week low of $2.80 and a 52-week high of $6.45. The company has a quick ratio of 3.79, a current ratio of 3.93 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $138.56, a price-to-earnings ratio of -5.86 and a beta of 0.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADMP. First Allied Advisory Services Inc. purchased a new position in shares of Adamis Pharmaceuticals in the second quarter worth about $114,000. Bank of New York Mellon Corp increased its holdings in shares of Adamis Pharmaceuticals by 131.0% in the third quarter. Bank of New York Mellon Corp now owns 27,464 shares of the specialty pharmaceutical company’s stock worth $143,000 after buying an additional 15,577 shares during the period. Stonebridge Capital Advisors LLC increased its holdings in shares of Adamis Pharmaceuticals by 22.2% in the second quarter. Stonebridge Capital Advisors LLC now owns 27,500 shares of the specialty pharmaceutical company’s stock worth $143,000 after buying an additional 5,000 shares during the period. Wells Fargo & Company MN purchased a new position in shares of Adamis Pharmaceuticals in the second quarter worth about $169,000. Finally, Virtu KCG Holdings LLC increased its holdings 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 buying an additional 19,538 shares during the period. Hedge funds and other institutional investors own 16.61% of the company’s stock.

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Adamis Pharmaceuticals Company Profile

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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