Zacks: Analysts Anticipate Adamis Pharmaceuticals Corp (ADMP) Will Post Quarterly Sales of $5.82 Million

Wall Street brokerages expect Adamis Pharmaceuticals Corp (NASDAQ:ADMP) to announce $5.82 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Adamis Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $4.24 million and the highest estimate coming in at $7.40 million. Adamis Pharmaceuticals posted sales of $2.84 million during the same quarter last year, which suggests a positive year over year growth rate of 104.9%. The firm is scheduled to announce its next earnings results on Thursday, March 21st.

On average, analysts expect that Adamis Pharmaceuticals will report full year sales of $16.74 million for the current financial year, with estimates ranging from $15.17 million to $18.30 million. For the next year, analysts expect that the firm will report sales of $26.39 million, with estimates ranging from $24.08 million to $28.70 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Adamis Pharmaceuticals.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its quarterly earnings data on Friday, November 9th. The specialty pharmaceutical company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.06). The firm had revenue of $3.83 million for the quarter, compared to analyst estimates of $5.39 million. Adamis Pharmaceuticals had a negative return on equity of 87.64% and a negative net margin of 248.43%.

Several analysts recently commented on ADMP shares. Zacks Investment Research lowered Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. B. Riley lowered Adamis Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $7.50 to $2.50 in a research note on Monday, November 12th. HC Wainwright set a $7.00 price target on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, November 13th. Finally, Maxim Group set a $10.00 price target on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, December 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Adamis Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $5.85.

A number of hedge funds have recently made changes to their positions in ADMP. BlackRock Inc. boosted its stake in Adamis Pharmaceuticals by 7.7% in the 2nd quarter. BlackRock Inc. now owns 293,328 shares of the specialty pharmaceutical company’s stock valued at $939,000 after buying an additional 20,871 shares in the last quarter. First Manhattan Co. acquired a new stake in Adamis Pharmaceuticals in the 3rd quarter valued at $11,967,000. DekaBank Deutsche Girozentrale raised its position 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 valued at $3,360,000 after purchasing an additional 500,000 shares during the last quarter. Perceptive Advisors LLC bought a new position in Adamis Pharmaceuticals in the 3rd quarter valued at $481,000. Finally, Vanguard Group Inc. raised its position 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 valued at $5,731,000 after purchasing an additional 348,645 shares during the last quarter. 22.38% of the stock is currently owned by institutional investors and hedge funds.

ADMP stock remained flat at $$3.06 during trading on Friday. The company had a trading volume of 3,523 shares, compared to its average volume of 399,056. The firm has a market cap of $145.18 million, a price-to-earnings ratio of -3.40 and a beta of 1.44. Adamis Pharmaceuticals has a twelve month low of $2.01 and a twelve month high of $5.10.

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.

Read More: Why do company’s buyback their stock?

Get a free copy of the Zacks research report on Adamis Pharmaceuticals (ADMP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Adamis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adamis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply