Adamis Pharmaceuticals (ADMP) Trading 5.7% Higher

Adamis Pharmaceuticals Corp (NASDAQ:ADMP) shares traded up 5.7% during mid-day trading on Thursday . The company traded as high as $3.75 and last traded at $3.70. 689,378 shares traded hands during trading, an increase of 20% from the average session volume of 573,481 shares. The stock had previously closed at $3.50.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Adamis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Maxim Group set a $14.00 price objective on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 5th. B. Riley set a $10.00 price objective on Adamis Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, ValuEngine downgraded Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.33.

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.93 and a quick ratio of 3.79. The stock has a market capitalization of $121.03, a price-to-earnings ratio of -5.29 and a beta of 0.19.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in Adamis Pharmaceuticals by 5.5% in the 2nd quarter. Northern Trust Corp now owns 51,108 shares of the specialty pharmaceutical company’s stock worth $266,000 after purchasing an additional 2,686 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Adamis Pharmaceuticals by 22.2% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 27,500 shares of the specialty pharmaceutical company’s stock worth $143,000 after purchasing an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Adamis Pharmaceuticals by 131.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,464 shares of the specialty pharmaceutical company’s stock worth $143,000 after purchasing an additional 15,577 shares in the last quarter. Virtu KCG Holdings LLC lifted its holdings in Adamis Pharmaceuticals by 103.2% in the 2nd quarter. Virtu KCG Holdings LLC now owns 38,474 shares of the specialty pharmaceutical company’s stock worth $200,000 after purchasing an additional 19,538 shares in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in Adamis Pharmaceuticals in the 2nd quarter worth approximately $114,000. 16.54% of the stock is currently owned by institutional investors.

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About Adamis Pharmaceuticals

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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