Needham & Company LLC Reiterates “Buy” Rating for Adamas Pharmaceuticals, Inc. (ADMS)
Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Sunday. They presently have a $38.00 price target on the specialty pharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 76.50% from the company’s current price.
ADMS has been the topic of a number of other research reports. JMP Securities restated an “outperform” rating and set a $33.00 target price (up previously from $29.00) on shares of Adamas Pharmaceuticals in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. BidaskClub upgraded shares of Adamas Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded shares of Adamas Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $30.00 price target on shares of Adamas Pharmaceuticals in a research report on Friday, September 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $33.00.
Shares of Adamas Pharmaceuticals (NASDAQ ADMS) opened at 21.53 on Friday. Adamas Pharmaceuticals has a 12-month low of $12.10 and a 12-month high of $22.58. The firm’s 50-day moving average price is $18.00 and its 200-day moving average price is $17.19. The firm’s market capitalization is $484.73 million.
Adamas Pharmaceuticals (NASDAQ:ADMS) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.81) by ($0.12). Adamas Pharmaceuticals had a negative return on equity of 52.91% and a negative net margin of 10,499.65%. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.03 million. During the same quarter in the previous year, the company earned ($0.78) EPS. The business’s revenue for the quarter was down 90.9% on a year-over-year basis. Equities analysts predict that Adamas Pharmaceuticals will post ($3.79) earnings per share 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 shares were sold at an average price of $17.05, for a total transaction of $5,967,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 731,041 shares of company stock worth $12,476,149 in the last quarter. 29.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Adamas Pharmaceuticals by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 745,237 shares of the specialty pharmaceutical company’s stock worth $13,034,000 after acquiring an additional 28,818 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Adamas Pharmaceuticals by 2.6% in the 2nd quarter. Alliancebernstein L.P. now owns 717,617 shares of the specialty pharmaceutical company’s stock valued at $12,551,000 after purchasing an additional 17,972 shares during the last quarter. Emerald Advisers Inc. PA lifted its stake in Adamas Pharmaceuticals by 2.7% in the 2nd quarter. Emerald Advisers Inc. PA now owns 532,727 shares of the specialty pharmaceutical company’s stock valued at $9,317,000 after purchasing an additional 14,042 shares during the last quarter. State Street Corp lifted its stake in Adamas Pharmaceuticals by 9.1% in the 2nd quarter. State Street Corp now owns 285,359 shares of the specialty pharmaceutical company’s stock valued at $4,990,000 after purchasing an additional 23,708 shares during the last quarter. Finally, Granite Point Capital Management L.P. lifted its stake in Adamas Pharmaceuticals by 11.9% in the 2nd 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 purchasing an additional 28,000 shares during the last quarter. Institutional investors and hedge funds own 69.24% of the company’s stock.
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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