Adamis Pharmaceuticals (NASDAQ:ADMP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a sell rating in a report issued on Wednesday, 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. “

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Adamis Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, September 4th. Maxim Group set a $6.00 target price on Adamis Pharmaceuticals and gave the stock a buy rating in a research report on Friday, August 9th. Dawson James initiated coverage on Adamis Pharmaceuticals in a research report on Tuesday, July 2nd. They issued a buy rating for the company. Finally, B. Riley raised Adamis Pharmaceuticals from a sell rating to a neutral rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $3.87.



NASDAQ:ADMP traded down $0.03 on Wednesday, hitting $0.60. 1,100 shares of the stock were exchanged, compared to its average volume of 900,713. The stock has a market cap of $39.00 million, a PE ratio of -0.62 and a beta of 1.36. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average of $0.81 and a 200-day moving average of $1.37. Adamis Pharmaceuticals has a fifty-two week low of $0.62 and a fifty-two week high of $3.29.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. boosted its holdings in Adamis Pharmaceuticals by 139.8% in the second quarter. Wedbush Securities Inc. now owns 44,600 shares of the specialty pharmaceutical company’s stock valued at $58,000 after purchasing an additional 26,000 shares during the last quarter. A.R.T. Advisors LLC boosted its holdings in Adamis Pharmaceuticals by 143.8% in the second quarter. A.R.T. Advisors LLC now owns 61,711 shares of the specialty pharmaceutical company’s stock valued at $80,000 after purchasing an additional 36,400 shares during the last quarter. GSA Capital Partners LLP bought a new position in Adamis Pharmaceuticals during the 2nd quarter worth approximately $181,000. Morgan Stanley lifted its holdings in Adamis Pharmaceuticals by 189.7% during the 2nd quarter. Morgan Stanley now owns 757,124 shares of the specialty pharmaceutical company’s stock worth $984,000 after buying an additional 495,793 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Adamis Pharmaceuticals by 1.5% during the 2nd quarter. BlackRock Inc. now owns 962,687 shares of the specialty pharmaceutical company’s stock worth $1,252,000 after buying an additional 14,312 shares during the last quarter. 12.09% of the stock is owned by hedge funds and other institutional investors.

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.

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