Adamis Pharmaceuticals (NASDAQ:ADMP) Given a $6.00 Price Target at Maxim Group

Maxim Group set a $6.00 price target on Adamis Pharmaceuticals (NASDAQ:ADMP) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a buy rating on the specialty pharmaceutical company’s stock.

Several other equities research analysts have also issued reports on ADMP. Raymond James set a $4.00 target price on shares of Adamis Pharmaceuticals and gave the stock a buy rating in a report on Friday, May 10th. Zacks Investment Research raised shares of Adamis Pharmaceuticals from a hold rating to a buy rating and set a $1.25 target price for the company in a report on Friday, July 26th. ValuEngine raised shares of Adamis Pharmaceuticals from a hold rating to a buy rating in a report on Saturday. Dawson James started coverage on shares of Adamis Pharmaceuticals in a report on Tuesday, July 2nd. They issued a buy rating for the company. Finally, B. Riley raised shares of Adamis Pharmaceuticals from a sell rating to a neutral rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $3.87.

Adamis Pharmaceuticals stock traded up $0.07 during midday trading on Friday, hitting $1.11. The stock had a trading volume of 1,253,646 shares, compared to its average volume of 415,594. The stock has a fifty day moving average of $1.21. The stock has a market capitalization of $49.07 million, a P/E ratio of -1.11 and a beta of 1.28. Adamis Pharmaceuticals has a 52-week low of $0.93 and a 52-week high of $4.25. The company has a quick ratio of 1.24, a current ratio of 1.53 and a debt-to-equity ratio of 0.03.

Adamis Pharmaceuticals (NASDAQ:ADMP) last released its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). The firm had revenue of $5.77 million during the quarter, compared to analysts’ expectations of $5.82 million. Adamis Pharmaceuticals had a negative return on equity of 79.65% and a negative net margin of 205.32%. On average, equities research analysts anticipate that Adamis Pharmaceuticals will post -0.43 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in Adamis Pharmaceuticals during the 4th quarter valued at approximately $31,000. Wedbush Securities Inc. purchased a new stake in Adamis Pharmaceuticals during the 1st quarter valued at approximately $39,000. Virtu Financial LLC purchased a new stake in Adamis Pharmaceuticals during the 1st quarter valued at approximately $43,000. National Asset Management Inc. grew its holdings in Adamis Pharmaceuticals by 28.9% during the 1st quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock valued at $64,000 after buying an additional 6,710 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Adamis Pharmaceuticals by 56.5% during the 4th quarter. Raymond James & Associates now owns 49,596 shares of the specialty pharmaceutical company’s stock valued at $112,000 after buying an additional 17,900 shares in the last quarter. 21.82% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Adamis Pharmaceuticals (NASDAQ:ADMP)

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