Adamas Pharmaceuticals (NASDAQ:ADMS) Rating Lowered to Neutral at Piper Sandler

Adamas Pharmaceuticals (NASDAQ:ADMS) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Tuesday, The Fly reports. They presently have a $8.00 price objective on the specialty pharmaceutical company’s stock, up from their prior price objective of $7.00. Piper Sandler’s price objective would suggest a potential downside of 0.87% from the company’s current price.

ADMS has been the subject of several other research reports. JMP Securities downgraded Adamas Pharmaceuticals from a “market outperform” rating to a “market perform” rating in a research report on Monday. William Blair downgraded Adamas Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Adamas Pharmaceuticals in a research report on Tuesday, August 10th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.27.

Shares of ADMS stock opened at $8.07 on Tuesday. The stock has a fifty day moving average price of $4.89 and a 200 day moving average price of $5.07. The stock has a market cap of $367.96 million, a PE ratio of -4.78 and a beta of 2.69. Adamas Pharmaceuticals has a 1 year low of $2.96 and a 1 year high of $9.15. The company has a debt-to-equity ratio of 21.25, a quick ratio of 4.94 and a current ratio of 5.30.

Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings data on Sunday, August 8th. The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. The firm had revenue of $21.97 million for the quarter, compared to analyst estimates of $22.24 million. As a group, equities research analysts predict that Adamas Pharmaceuticals will post -1.01 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Worth Venture Partners LLC grew its position in shares of Adamas Pharmaceuticals by 9.7% in the second quarter. Worth Venture Partners LLC now owns 590,730 shares of the specialty pharmaceutical company’s stock valued at $3,119,000 after purchasing an additional 52,335 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Adamas Pharmaceuticals by 47.2% in the second quarter. Bridgeway Capital Management LLC now owns 264,900 shares of the specialty pharmaceutical company’s stock valued at $1,399,000 after purchasing an additional 85,000 shares during the period. Bank of America Corp DE grew its position in shares of Adamas Pharmaceuticals by 1,586.4% in the second quarter. Bank of America Corp DE now owns 60,339 shares of the specialty pharmaceutical company’s stock valued at $319,000 after purchasing an additional 56,761 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Adamas Pharmaceuticals in the second quarter valued at $11,887,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Adamas Pharmaceuticals in the second quarter valued at $76,000. 71.69% of the stock is owned by institutional investors and hedge funds.

Adamas Pharmaceuticals Company Profile

Adamas Pharmaceuticals, Inc engages in discovery and development of chrono-synchronous therapies for chronic neurologic disorders. Its products include GOCOVRI, ADS-5012, ADS-4101, and Namzaric. GOCOVRI is indicated for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy.

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