Zacks Investment Research lowered shares of Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) from a hold rating to a sell rating in a report released on Monday morning.
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 analysts have also weighed in on the company. B. Riley set a $10.00 target price on Adamis Pharmaceuticals Corporation and gave the company a buy rating in a research note on Wednesday, November 15th. ValuEngine lowered Adamis Pharmaceuticals Corporation from a hold rating to a sell rating in a research note on Tuesday, October 3rd. Raymond James Financial, Inc. began coverage on Adamis Pharmaceuticals Corporation in a research note on Tuesday, September 12th. They issued an outperform rating and a $7.00 target price for the company. Finally, Maxim Group restated a buy rating and issued a $13.00 target price on shares of Adamis Pharmaceuticals Corporation in a research note on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $10.00.
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Several large investors have recently made changes to their positions in the company. EAM Investors LLC boosted its holdings in Adamis Pharmaceuticals Corporation by 58.3% in the third quarter. EAM Investors LLC now owns 371,732 shares of the specialty pharmaceutical company’s stock valued at $1,942,000 after acquiring an additional 136,970 shares during the last quarter. Granite Investment Partners LLC bought a new position in Adamis Pharmaceuticals Corporation in the third quarter valued at about $457,000. Bank of New York Mellon Corp boosted its holdings in Adamis Pharmaceuticals Corporation by 131.0% in the third quarter. Bank of New York Mellon Corp now owns 27,464 shares of the specialty pharmaceutical company’s stock valued at $143,000 after acquiring an additional 15,577 shares during the last quarter. Advisor Group Inc. boosted its holdings in Adamis Pharmaceuticals Corporation by 149.9% in the third quarter. Advisor Group Inc. now owns 56,001 shares of the specialty pharmaceutical company’s stock valued at $292,000 after acquiring an additional 33,591 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its holdings in Adamis Pharmaceuticals Corporation by 22.2% in the second quarter. Stonebridge Capital Advisors LLC now owns 27,500 shares of the specialty pharmaceutical company’s stock valued at $143,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 9.93% of the company’s stock.
About Adamis Pharmaceuticals Corporation
Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M).
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