Adamis Pharmaceuticals (NASDAQ:ADMP) Upgraded to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. The firm currently has $1.50 target price on the specialty pharmaceutical company’s stock.

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 brokerages have also issued reports on ADMP. Maxim Group set a $10.00 target price on shares of Adamis Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, March 19th. Dawson James assumed coverage on shares of Adamis Pharmaceuticals in a research report on Tuesday, July 2nd. They set a buy rating for the company. Finally, Raymond James restated a buy rating on shares of Canadian Natural Resources in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $5.00.

Shares of ADMP opened at $1.40 on Tuesday. The firm has a 50-day moving average of $1.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.53 and a quick ratio of 1.24. Adamis Pharmaceuticals has a 52-week low of $1.20 and a 52-week high of $4.25.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its earnings results on Thursday, May 9th. The specialty pharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). The company had revenue of $4.91 million during the quarter, compared to the consensus estimate of $5.95 million. Adamis Pharmaceuticals had a negative net margin of 239.53% and a negative return on equity of 94.94%. Equities research analysts expect that Adamis Pharmaceuticals will post -0.44 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in shares of Adamis Pharmaceuticals during the 1st quarter valued at about $3,360,000. BlackRock Inc. boosted its position in shares of Adamis Pharmaceuticals by 8.4% during the 4th quarter. BlackRock Inc. now owns 963,864 shares of the specialty pharmaceutical company’s stock valued at $2,169,000 after purchasing an additional 74,424 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Adamis Pharmaceuticals by 18.9% during the 4th quarter. Geode Capital Management LLC now owns 301,330 shares of the specialty pharmaceutical company’s stock valued at $677,000 after purchasing an additional 47,999 shares in the last quarter. Leisure Capital Management boosted its position in shares of Adamis Pharmaceuticals by 4.5% during the 1st quarter. Leisure Capital Management now owns 115,724 shares of the specialty pharmaceutical company’s stock valued at $244,000 after purchasing an additional 4,967 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Adamis Pharmaceuticals by 56.5% during the 4th quarter. Raymond James & Associates now owns 49,596 shares of the specialty pharmaceutical company’s stock valued at $112,000 after purchasing an additional 17,900 shares in the last quarter. Institutional investors own 21.99% 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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