Adamis Pharmaceuticals (NASDAQ:ADMP) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

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. “

A number of other equities research analysts have also weighed in on ADMP. Raymond James set a $4.00 target price on shares of Adamis Pharmaceuticals and gave the company a buy rating in a research note on Friday, May 10th. ValuEngine upgraded shares of Adamis Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, August 10th. B. Riley upgraded shares of Adamis Pharmaceuticals from a sell rating to a neutral rating in a research note on Tuesday, July 23rd. Maxim Group set a $6.00 price objective on Adamis Pharmaceuticals and gave the stock a buy rating in a research note on Friday, August 9th. Finally, Dawson James initiated coverage on Adamis Pharmaceuticals in a research note on Tuesday, July 2nd. They issued a buy rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $3.87.

Shares of ADMP opened at $1.08 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.24 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.92. Adamis Pharmaceuticals has a 1-year low of $0.93 and a 1-year high of $4.25.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The company had revenue of $5.77 million for the quarter, compared to analysts’ expectations of $5.82 million. Adamis Pharmaceuticals had a negative net margin of 205.32% and a negative return on equity of 86.04%. As a group, analysts forecast that Adamis Pharmaceuticals will post -0.46 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Adamis Pharmaceuticals in the 4th quarter worth $31,000. Wedbush Securities Inc. purchased a new stake in shares of Adamis Pharmaceuticals in the 1st quarter worth $39,000. Virtu Financial LLC purchased a new stake in shares of Adamis Pharmaceuticals in the 1st quarter worth $43,000. National Asset Management Inc. increased its stake in shares of Adamis Pharmaceuticals by 28.9% in the 1st quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock worth $64,000 after purchasing an additional 6,710 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its stake in shares of Adamis Pharmaceuticals by 143.8% in the 2nd quarter. A.R.T. Advisors LLC now owns 61,711 shares of the specialty pharmaceutical company’s stock worth $80,000 after purchasing an additional 36,400 shares in the last quarter. Hedge funds and other institutional investors own 19.49% of the company’s stock.

About Adamis Pharmaceuticals

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.

Featured Article: No Load Funds

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

Analyst Recommendations for Adamis Pharmaceuticals (NASDAQ:ADMP)

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.