Raymond James Analysts Give Adamis Pharmaceuticals (ADMP) a $4.00 Price Target

Raymond James set a $4.00 price target on Adamis Pharmaceuticals (NASDAQ:ADMP) in a research note issued to investors on Friday, TipRanks reports. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. Maxim Group set a $10.00 price objective on shares of Adamis Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, March 19th. Zacks Investment Research cut shares of Adamis Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, January 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $5.25.

NASDAQ ADMP opened at $1.96 on Friday. Adamis Pharmaceuticals has a 52-week low of $1.85 and a 52-week high of $5.10. The stock has a market cap of $92.69 million, a PE ratio of -1.96 and a beta of 1.35.

Adamis Pharmaceuticals (NASDAQ:ADMP) last issued its quarterly earnings data on Thursday, May 9th. The specialty pharmaceutical company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Adamis Pharmaceuticals had a negative return on equity of 93.01% and a negative net margin of 239.53%. The business had revenue of $4.91 million during the quarter, compared to analyst estimates of $5.95 million. Research analysts forecast that Adamis Pharmaceuticals will post -0.69 earnings per share for the current year.

In other Adamis Pharmaceuticals news, VP Karen K. Daniels sold 13,911 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.30, for a total value of $31,995.30. Following the transaction, the vice president now directly owns 179,944 shares of the company’s stock, valued at approximately $413,871.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dennis J. Phd Carlo sold 13,292 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.27, for a total transaction of $30,172.84. Following the completion of the transaction, the chief executive officer now directly owns 42,353 shares in the company, valued at $96,141.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,329 shares of company stock worth $121,847. Insiders own 10.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ADMP. BlackRock Inc. increased its holdings in Adamis Pharmaceuticals by 203.2% in the 3rd quarter. BlackRock Inc. now owns 889,440 shares of the specialty pharmaceutical company’s stock valued at $3,113,000 after buying an additional 596,112 shares during the period. Vanguard Group Inc. increased its holdings in Adamis Pharmaceuticals by 27.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,637,513 shares of the specialty pharmaceutical company’s stock valued at $5,731,000 after buying an additional 348,645 shares during the period. Vanguard Group Inc increased its holdings in Adamis Pharmaceuticals by 27.1% in the 3rd quarter. Vanguard Group Inc now owns 1,637,513 shares of the specialty pharmaceutical company’s stock valued at $5,731,000 after buying an additional 348,645 shares during the period. Oppenheimer & Co. Inc. bought a new position in Adamis Pharmaceuticals in the 4th quarter valued at about $38,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Adamis Pharmaceuticals in the 4th quarter valued at about $36,000. 17.41% of the stock is currently 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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