Millennium Management LLC lifted its position in Adamas Pharmaceuticals Inc (NASDAQ:ADMS) by 91.6% in the 4th quarter, HoldingsChannel reports. The fund owned 479,899 shares of the specialty pharmaceutical company’s stock after buying an additional 229,404 shares during the period. Millennium Management LLC’s holdings in Adamas Pharmaceuticals were worth $4,098,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in shares of Adamas Pharmaceuticals during the 3rd quarter worth about $104,000. First Mercantile Trust Co. lifted its holdings in Adamas Pharmaceuticals by 43.2% during the 4th quarter. First Mercantile Trust Co. now owns 5,765 shares of the specialty pharmaceutical company’s stock valued at $49,000 after purchasing an additional 1,740 shares during the last quarter. Advisor Group Inc. lifted its holdings in Adamas Pharmaceuticals by 252.0% during the 4th quarter. Advisor Group Inc. now owns 6,300 shares of the specialty pharmaceutical company’s stock valued at $54,000 after purchasing an additional 4,510 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Adamas Pharmaceuticals during the 3rd quarter valued at about $162,000. Finally, Jane Street Group LLC bought a new position in shares of Adamas Pharmaceuticals in the third quarter worth about $324,000. Institutional investors and hedge funds own 88.28% of the company’s stock.
In other news, CEO Gregory T. Went sold 6,319 shares of Adamas Pharmaceuticals stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $7.99, for a total transaction of $50,488.81. Following the completion of the sale, the chief executive officer now owns 176,291 shares in the company, valued at approximately $1,408,565.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 8,361 shares of company stock valued at $66,816. 24.60% of the stock is owned by corporate insiders.
Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings results on Monday, March 4th. The specialty pharmaceutical company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.36) by $0.30. Adamas Pharmaceuticals had a negative net margin of 384.77% and a negative return on equity of 101.46%. The company had revenue of $13.32 million during the quarter, compared to analysts’ expectations of $13.30 million. As a group, research analysts forecast that Adamas Pharmaceuticals Inc will post -4.14 EPS for the current year.
A number of equities analysts have weighed in on ADMS shares. Mizuho reaffirmed a “hold” rating and issued a $11.00 target price on shares of Adamas Pharmaceuticals in a research note on Friday, January 11th. HC Wainwright set a $40.00 target price on shares of Adamas Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, January 14th. BidaskClub raised shares of Adamas Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, February 15th. Cowen downgraded shares of Adamas Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $15.00 in a research note on Tuesday, March 5th. Finally, Piper Jaffray Companies set a $23.00 target price on shares of Adamas Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Adamas Pharmaceuticals has a consensus rating of “Hold” and an average target price of $23.88.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc focuses on the discovery, development, and commercialization of medicines for patients suffering from chronic neurologic disorders. The company offers GOCOVRI, an extended release capsule for the treatment of dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications.
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