Zacks Investment Research Lowers Adamas Pharmaceuticals, Inc. (ADMS) to Sell
Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
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. “
Several other analysts also recently commented on the company. BidaskClub downgraded Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Noble Financial reissued a “buy” rating on shares of Adamas Pharmaceuticals in a research note on Friday, May 12th. Mizuho reissued a “buy” rating and issued a $26.00 price objective on shares of Adamas Pharmaceuticals in a research note on Tuesday, June 6th. Finally, Cowen and Company reissued an “outperform” rating and issued a $45.00 price objective on shares of Adamas Pharmaceuticals in a research note on Sunday, May 28th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.00.
Adamas Pharmaceuticals (ADMS) traded up 3.87% on Friday, reaching $15.84. The company’s stock had a trading volume of 329,548 shares. Adamas Pharmaceuticals has a 52-week low of $12.10 and a 52-week high of $19.50. The firm’s 50-day moving average price is $17.28 and its 200 day moving average price is $16.85. The company’s market cap is $356.62 million.
Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.81) by $0.12. The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.03 million. Adamas Pharmaceuticals had a negative return on equity of 52.91% and a negative net margin of 10,499.65%. The business’s revenue for the quarter was down 90.9% compared to the same quarter last year. During the same period last year, the company earned ($0.78) earnings per share. Equities analysts anticipate that Adamas Pharmaceuticals will post ($3.71) EPS for the current fiscal year.
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In related news, major shareholder Great Point Partners Llc sold 350,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $17.05, for a total transaction of $5,967,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 731,041 shares of company stock valued at $12,476,149 over the last ninety days. 29.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ADMS. Vanguard Group Inc. raised its position in shares of Adamas Pharmaceuticals by 4.0% in the second quarter. Vanguard Group Inc. now owns 745,237 shares of the specialty pharmaceutical company’s stock valued at $13,034,000 after buying an additional 28,818 shares during the period. Alliancebernstein L.P. raised its position in shares of Adamas Pharmaceuticals by 2.6% in the second quarter. Alliancebernstein L.P. now owns 717,617 shares of the specialty pharmaceutical company’s stock valued at $12,551,000 after buying an additional 17,972 shares during the period. Emerald Advisers Inc. PA raised its position in shares of Adamas Pharmaceuticals by 2.7% in the second quarter. Emerald Advisers Inc. PA now owns 532,727 shares of the specialty pharmaceutical company’s stock valued at $9,317,000 after buying an additional 14,042 shares during the period. Granite Point Capital Management L.P. raised its position in shares of Adamas Pharmaceuticals by 11.9% in the second quarter. Granite Point Capital Management L.P. now owns 263,515 shares of the specialty pharmaceutical company’s stock valued at $4,609,000 after buying an additional 28,000 shares during the period. Finally, State Street Corp raised its position in shares of Adamas Pharmaceuticals by 6.3% in the fourth quarter. State Street Corp now owns 257,685 shares of the specialty pharmaceutical company’s stock valued at $4,356,000 after buying an additional 15,216 shares during the period. 71.33% of the stock is owned by institutional investors and hedge funds.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc is a pharmaceutical company. The Company is engaged in developing medicines to manage the daily lives of those affected by chronic neurologic disorders. It offers a platform based on an understanding of time dependent biologic effects of disease activity and drug response to achieve relief without tolerability issues.
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