Adamis Pharmaceuticals (NASDAQ:ADMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, 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 research analysts also recently weighed in on ADMP. ValuEngine raised Adamis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. B. Riley raised Adamis Pharmaceuticals from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 23rd. Dawson James started coverage on Adamis Pharmaceuticals in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. Raymond James set a $4.00 target price on Adamis Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Maxim Group set a $6.00 target price on Adamis Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Adamis Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $3.87.

NASDAQ:ADMP traded up $0.03 during trading hours on Tuesday, reaching $1.14. The company had a trading volume of 34,510 shares, compared to its average volume of 598,338. Adamis Pharmaceuticals has a 1-year low of $0.93 and a 1-year high of $4.25. The company has a market capitalization of $52.39 million, a price-to-earnings ratio of -1.14 and a beta of 1.28. The stock has a 50 day moving average price of $1.20. 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 (NASDAQ:ADMP) last announced its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The company had revenue of $5.77 million during the quarter, compared to analyst estimates of $5.82 million. Adamis Pharmaceuticals had a negative net margin of 205.32% and a negative return on equity of 79.65%. On average, equities analysts anticipate that Adamis Pharmaceuticals will post -0.43 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ADMP. Jane Street Group LLC purchased a new stake in shares of Adamis Pharmaceuticals during the fourth quarter worth approximately $31,000. Wedbush Securities Inc. purchased a new stake in shares of Adamis Pharmaceuticals during the first quarter worth approximately $39,000. Virtu Financial LLC purchased a new stake in shares of Adamis Pharmaceuticals during the first quarter worth approximately $43,000. National Asset Management Inc. increased its position in shares of Adamis Pharmaceuticals by 28.9% during the first 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 in the last quarter. Finally, Raymond James & Associates increased its position in shares of Adamis Pharmaceuticals by 56.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 19.49% of the company’s stock.

About Adamis Pharmaceuticals

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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