Zacks Investment Research upgraded shares of Adamis Pharmaceuticals (NASDAQ:ADMP) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $1.25 price objective on the specialty pharmaceutical company’s stock.

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 equities research analysts also recently commented on ADMP. Raymond James reiterated a buy rating on shares of Canadian Natural Resources in a report on Friday, May 10th. Dawson James initiated coverage on Adamis Pharmaceuticals in a report on Tuesday, July 2nd. They set a buy rating on the stock. Finally, B. Riley restated a buy rating on shares of Brightcove in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $4.67.

Shares of NASDAQ:ADMP traded down $0.03 during mid-day trading on Friday, hitting $1.18. 215,217 shares of the company traded hands, compared to its average volume of 587,921. The firm has a market capitalization of $55.80 million, a price-to-earnings ratio of -1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.24 and a current ratio of 1.53. Adamis Pharmaceuticals has a 52-week low of $1.09 and a 52-week high of $4.25. The stock’s 50 day moving average price is $1.31.

Adamis Pharmaceuticals (NASDAQ:ADMP) last announced its earnings results on Thursday, May 9th. The specialty pharmaceutical company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). The company had revenue of $4.91 million for the quarter, compared to analysts’ expectations of $5.95 million. Adamis Pharmaceuticals had a negative net margin of 239.53% and a negative return on equity of 94.94%. On average, equities analysts expect that Adamis Pharmaceuticals will post -0.43 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Leisure Capital Management increased its holdings in Adamis Pharmaceuticals by 4.5% during the 1st quarter. Leisure Capital Management now owns 115,724 shares of the specialty pharmaceutical company’s stock worth $244,000 after purchasing an additional 4,967 shares during the last quarter. National Asset Management Inc. increased its holdings in Adamis Pharmaceuticals by 28.9% during the 1st quarter. National Asset Management Inc. now owns 29,920 shares of the specialty pharmaceutical company’s stock worth $64,000 after purchasing an additional 6,710 shares during the last quarter. Jane Street Group LLC purchased a new stake in Adamis Pharmaceuticals during the 4th quarter worth approximately $31,000. Raymond James & Associates increased its holdings in Adamis Pharmaceuticals by 56.5% during the 4th quarter. Raymond James & Associates now owns 49,596 shares of the specialty pharmaceutical company’s stock worth $112,000 after purchasing an additional 17,900 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in Adamis Pharmaceuticals during the 1st quarter worth approximately $39,000. Institutional investors own 21.79% 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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