Adamas Pharmaceuticals Inc. (ADMS) Raised to “Hold” at Zacks Investment Research
Adamas Pharmaceuticals Inc. (NASDAQ:ADMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Adamas Pharmaceuticals, Inc. is a specialty pharmaceutical company driven to improve the lives of those affected by chronic disorders of the central nervous system. The company seeks to achieve this by modifying the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products. Adamas is currently developing ADS-5102, its lead wholly-owned product candidate, for the treatment of levodopa-induced dyskinesia (LID) associated with Parkinson’s disease and for the treatment of major symptoms associated with multiple sclerosis in patients with walking impairment. The company’s portfolio also includes Namzaric and Namenda XR, two approved products with Forest Laboratories Holdings Limited, an indirect wholly-owned subsidiary of Allergan plc. Forest is responsible for marketing both products in the United States under an exclusive license from Adamas. “
A number of other research analysts have also weighed in on ADMS. Mizuho raised Adamas Pharmaceuticals from a “neutral” rating to a “buy” rating in a research note on Monday, June 13th. Credit Suisse Group AG reissued a “buy” rating and set a $21.00 price target on shares of Adamas Pharmaceuticals in a research note on Monday, July 25th. Noble Financial reissued a “buy” rating and set a $25.00 price target on shares of Adamas Pharmaceuticals in a research note on Friday, July 22nd. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Adamas Pharmaceuticals in a research note on Wednesday, July 20th. Finally, JMP Securities reissued a “buy” rating on shares of Adamas Pharmaceuticals in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.11.
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Shares of Adamas Pharmaceuticals (NASDAQ:ADMS) traded down 3.97% during midday trading on Tuesday, hitting $15.95. The stock had a trading volume of 170,850 shares. The stock has a 50-day moving average price of $15.85 and a 200-day moving average price of $15.82. Adamas Pharmaceuticals has a 12-month low of $12.02 and a 12-month high of $31.84. The stock’s market cap is $349.77 million.
In related news, major shareholder Ix Lp Mdv bought 50,919 shares of the stock in a transaction dated Tuesday, September 6th. The stock was acquired at an average price of $14.79 per share, for a total transaction of $753,092.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William W. Ericson bought 43,719 shares of the stock in a transaction dated Friday, September 2nd. The stock was bought at an average price of $14.75 per share, with a total value of $644,855.25. The disclosure for this purchase can be found here. Company insiders own 31.79% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Prudential Financial Inc. bought a new stake in Adamas Pharmaceuticals during the first quarter worth about $491,000. JPMorgan Chase & Co. raised its stake in Adamas Pharmaceuticals by 107.5% in the first quarter. JPMorgan Chase & Co. now owns 114,106 shares of the specialty pharmaceutical company’s stock worth $1,650,000 after buying an additional 59,125 shares during the period. State Street Corp raised its stake in Adamas Pharmaceuticals by 6.9% in the first quarter. State Street Corp now owns 170,759 shares of the specialty pharmaceutical company’s stock worth $2,466,000 after buying an additional 11,002 shares during the period. Geode Capital Management LLC raised its stake in Adamas Pharmaceuticals by 19.6% in the first quarter. Geode Capital Management LLC now owns 89,468 shares of the specialty pharmaceutical company’s stock worth $1,293,000 after buying an additional 14,633 shares during the period. Finally, Sabby Management LLC bought a new stake in Adamas Pharmaceuticals during the first quarter worth about $2,890,000. Institutional investors and hedge funds own 74.65% of the company’s stock.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc is a pharmaceutical company. The Company is focused on the development and commercialization of therapeutics targeting chronic disorders of the central nervous systems (CNS). Its segment focuses on the development and commercialization of therapeutics targeting chronic disorders of the central nervous system.
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