Granite Point Capital Management L.P. decreased its holdings in shares of Adamas Pharmaceuticals Inc (NASDAQ:ADMS) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,715 shares of the specialty pharmaceutical company’s stock after selling 7,400 shares during the quarter. Adamas Pharmaceuticals makes up 0.3% of Granite Point Capital Management L.P.’s holdings, making the stock its 27th biggest position. Granite Point Capital Management L.P. owned about 0.71% of Adamas Pharmaceuticals worth $3,898,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Adamas Pharmaceuticals by 2.4% in the third quarter. BlackRock Inc. now owns 1,889,914 shares of the specialty pharmaceutical company’s stock worth $37,836,000 after acquiring an additional 43,818 shares during the period. Fosun International Ltd acquired a new position in shares of Adamas Pharmaceuticals in the third quarter worth approximately $1,152,000. AXA lifted its stake in shares of Adamas Pharmaceuticals by 2.2% in the third quarter. AXA now owns 190,830 shares of the specialty pharmaceutical company’s stock worth $3,820,000 after acquiring an additional 4,037 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Adamas Pharmaceuticals by 18.1% in the third quarter. Alliancebernstein L.P. now owns 846,379 shares of the specialty pharmaceutical company’s stock worth $16,945,000 after acquiring an additional 129,763 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Adamas Pharmaceuticals by 26.8% in the third quarter. American Century Companies Inc. now owns 125,213 shares of the specialty pharmaceutical company’s stock worth $2,507,000 after acquiring an additional 26,503 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.
Shares of ADMS opened at $10.26 on Friday. Adamas Pharmaceuticals Inc has a 52-week low of $9.69 and a 52-week high of $44.00. The company has a current ratio of 8.95, a quick ratio of 8.74 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $280.47 million, a price-to-earnings ratio of -2.58 and a beta of 1.53.
In other news, CEO Gregory T. Went bought 3,850 shares of the stock in a transaction dated Wednesday, November 7th. The shares were bought at an average cost of $12.98 per share, with a total value of $49,973.00. Following the completion of the transaction, the chief executive officer now directly owns 182,610 shares of the company’s stock, valued at $2,370,277.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alfred G. Merriweather sold 1,665 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $19.18, for a total value of $31,934.70. Following the transaction, the chief financial officer now directly owns 25,460 shares in the company, valued at $488,322.80. The disclosure for this sale can be found here. 24.60% of the stock is currently owned by insiders.
A number of research firms recently commented on ADMS. BidaskClub lowered Adamas Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 1st. Leerink Swann assumed coverage on Adamas Pharmaceuticals in a research note on Monday, November 12th. They issued an “outperform” rating and a $20.00 price target on the stock. Zacks Investment Research lowered Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Cowen set a $30.00 price target on Adamas Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, November 1st. Finally, Bank of America lowered Adamas Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $25.00 in a research note on Friday, October 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.13.
Adamas Pharmaceuticals Company Profile
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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