Adamas Pharmaceuticals (ADMS) Lowered to “Neutral” at Bank of America

Bank of America lowered shares of Adamas Pharmaceuticals (NASDAQ:ADMS) from a buy rating to a neutral rating in a research note released on Friday morning, MarketBeat.com reports. Bank of America currently has $25.00 price target on the specialty pharmaceutical company’s stock, down from their previous price target of $36.00.

Several other brokerages have also issued reports on ADMS. HC Wainwright set a $45.00 price target on Adamas Pharmaceuticals and gave the company a buy rating in a research note on Monday, August 6th. BidaskClub lowered Adamas Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Monday, June 18th. ValuEngine lowered Adamas Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Tuesday, August 28th. Finally, Mizuho reiterated a buy rating and issued a $75.00 price target on shares of Adamas Pharmaceuticals in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $44.78.

Shares of ADMS opened at $17.83 on Friday. Adamas Pharmaceuticals has a 52-week low of $16.07 and a 52-week high of $44.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.74 and a current ratio of 9.92. The firm has a market capitalization of $544.35 million, a PE ratio of -4.49 and a beta of 1.39.

Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.41) by $0.15. Adamas Pharmaceuticals had a negative return on equity of 104.86% and a negative net margin of 1,138.59%. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $4.84 million. Equities research analysts expect that Adamas Pharmaceuticals will post -5.37 earnings per share for the current year.

In related news, CFO Alfred G. Merriweather sold 1,665 shares of the business’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $19.18, for a total transaction of $31,934.70. Following the sale, the chief financial officer now owns 25,460 shares in the company, valued at approximately $488,322.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of ADMS. FNY Investment Advisers LLC bought a new stake in Adamas Pharmaceuticals during the 2nd quarter worth $130,000. Sei Investments Co. grew its position in Adamas Pharmaceuticals by 49.8% during the 1st quarter. Sei Investments Co. now owns 7,627 shares of the specialty pharmaceutical company’s stock worth $182,000 after acquiring an additional 2,536 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in Adamas Pharmaceuticals by 43.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,606 shares of the specialty pharmaceutical company’s stock worth $196,000 after acquiring an additional 2,293 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Adamas Pharmaceuticals during the 2nd quarter worth $203,000. Finally, GSA Capital Partners LLP bought a new stake in Adamas Pharmaceuticals during the 2nd quarter worth $212,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

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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