Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) was the recipient of a large decline in short interest in the month of September. As of September 29th, there was short interest totalling 2,112,226 shares, a decline of 37.5% from the September 15th total of 3,380,256 shares. Based on an average daily volume of 456,808 shares, the days-to-cover ratio is currently 4.6 days. Approximately 7.6% of the company’s shares are sold short.

Institutional investors have recently modified their holdings of the stock. First Allied Advisory Services Inc. purchased a new position in Adamis Pharmaceuticals Corporation in the second quarter worth approximately $114,000. Stonebridge Capital Advisors LLC grew its position in Adamis Pharmaceuticals Corporation by 22.2% in the second quarter. Stonebridge Capital Advisors LLC now owns 27,500 shares of the specialty pharmaceutical company’s stock worth $143,000 after acquiring an additional 5,000 shares during the period. Wells Fargo & Company MN purchased a new position in Adamis Pharmaceuticals Corporation in the second quarter worth approximately $169,000. IFP Advisors Inc grew its position in Adamis Pharmaceuticals Corporation by 2,245.6% in the second quarter. IFP Advisors Inc now owns 34,433 shares of the specialty pharmaceutical company’s stock worth $179,000 after acquiring an additional 32,965 shares during the period. Finally, Virtu KCG Holdings LLC grew its position in Adamis Pharmaceuticals Corporation by 103.2% in the second quarter. Virtu KCG Holdings LLC now owns 38,474 shares of the specialty pharmaceutical company’s stock worth $200,000 after acquiring an additional 19,538 shares during the period. Institutional investors own 10.14% of the company’s stock.

A number of brokerages have recently commented on ADMP. ValuEngine cut Adamis Pharmaceuticals Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Maxim Group reiterated a “buy” rating and issued a $13.00 target price on shares of Adamis Pharmaceuticals Corporation in a report on Monday, August 21st. Raymond James Financial, Inc. began coverage on Adamis Pharmaceuticals Corporation in a report on Tuesday, September 12th. They issued an “outperform” rating and a $7.00 target price for the company. Finally, B. Riley reiterated a “buy” rating and issued a $9.50 target price on shares of Adamis Pharmaceuticals Corporation in a report on Wednesday, October 4th.

Shares of Adamis Pharmaceuticals Corporation (ADMP) opened at 4.80 on Friday. The company’s 50 day moving average price is $5.28 and its 200-day moving average price is $4.70. The company’s market capitalization is $150.48 million. Adamis Pharmaceuticals Corporation has a 52 week low of $2.40 and a 52 week high of $6.45.

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Adamis Pharmaceuticals Corporation Company Profile

Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M).

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