Adamis Pharmaceuticals (NASDAQ:ADMP) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.

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. “

Several other analysts have also recently commented on ADMP. Dawson James started coverage on shares of Adamis Pharmaceuticals in a research note on Tuesday, July 2nd. They set a buy rating for the company. B. Riley upgraded shares of Adamis Pharmaceuticals from a sell rating to a neutral rating in a research note on Tuesday, July 23rd. Maxim Group set a $6.00 price objective on shares of Adamis Pharmaceuticals and gave the company a buy rating in a research note on Friday, August 9th. Finally, ValuEngine cut shares of Adamis Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $3.87.

Shares of NASDAQ ADMP opened at $0.54 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. Adamis Pharmaceuticals has a 12 month low of $0.49 and a 12 month high of $3.29. The company has a 50 day simple moving average of $0.79 and a two-hundred day simple moving average of $1.36. The stock has a market cap of $33.18 million, a price-to-earnings ratio of -0.54 and a beta of 1.36.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Adamis Pharmaceuticals had a negative net margin of 205.32% and a negative return on equity of 86.04%. The business had revenue of $5.77 million for the quarter, compared to analyst estimates of $5.82 million. Analysts forecast that Adamis Pharmaceuticals will post -0.46 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of ADMP. Wedbush Securities Inc. lifted its stake in shares of Adamis Pharmaceuticals by 139.8% in the 2nd quarter. Wedbush Securities Inc. now owns 44,600 shares of the specialty pharmaceutical company’s stock valued at $58,000 after purchasing an additional 26,000 shares during the period. A.R.T. Advisors LLC lifted its stake in shares of Adamis Pharmaceuticals by 143.8% in the 2nd quarter. A.R.T. Advisors LLC now owns 61,711 shares of the specialty pharmaceutical company’s stock valued at $80,000 after purchasing an additional 36,400 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Adamis Pharmaceuticals in the 2nd quarter valued at $181,000. Morgan Stanley lifted its stake in shares of Adamis Pharmaceuticals by 189.7% in the 2nd quarter. Morgan Stanley now owns 757,124 shares of the specialty pharmaceutical company’s stock valued at $984,000 after purchasing an additional 495,793 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Adamis Pharmaceuticals by 1.5% in the 2nd quarter. BlackRock Inc. now owns 962,687 shares of the specialty pharmaceutical company’s stock valued at $1,252,000 after purchasing an additional 14,312 shares during the period. Hedge funds and other institutional investors own 12.09% 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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