Maxim Group Reiterates “Buy” Rating for Adamis Pharmaceuticals (NASDAQ:ADMP)

Adamis Pharmaceuticals (NASDAQ:ADMP)‘s stock had its “buy” rating reaffirmed by analysts at Maxim Group in a research report issued on Wednesday, AnalystRatings.com reports. They presently have a $1.50 target price on the specialty pharmaceutical company’s stock. Maxim Group’s target price would indicate a potential upside of 93.00% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Raymond James restated a “hold” rating on shares of Adamis Pharmaceuticals in a report on Wednesday, August 19th. Zacks Investment Research cut shares of Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 25th. Finally, Dawson James cut shares of Adamis Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Monday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $1.08.

Shares of NASDAQ ADMP traded up $0.01 during trading on Wednesday, reaching $0.78. The company had a trading volume of 11,340 shares, compared to its average volume of 3,073,413. Adamis Pharmaceuticals has a 52 week low of $0.27 and a 52 week high of $1.51. The stock has a market cap of $56.92 million, a PE ratio of -1.58 and a beta of 2.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.80 and a current ratio of 0.97. The business’s 50 day moving average price is $0.87 and its 200-day moving average price is $0.62.

Adamis Pharmaceuticals (NASDAQ:ADMP) last issued its quarterly earnings data on Monday, August 17th. The specialty pharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.06). The firm had revenue of $3.93 million for the quarter, compared to analyst estimates of $5.00 million. Adamis Pharmaceuticals had a negative net margin of 170.83% and a negative return on equity of 87.50%. Equities analysts anticipate that Adamis Pharmaceuticals will post -0.33 earnings per share for the current year.

A hedge fund recently bought a new stake in Adamis Pharmaceuticals stock. Sabby Management LLC bought a new position in shares of Adamis Pharmaceuticals Corp (NASDAQ:ADMP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 88,210 shares of the specialty pharmaceutical company’s stock, valued at approximately $32,000. Sabby Management LLC owned about 0.12% of Adamis Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 6.91% of the company’s stock.

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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