Adamis Pharmaceuticals (NASDAQ:ADMP) has been assigned a $5.00 price objective by Maxim Group in a report issued on Wednesday. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. Maxim Group’s price objective would suggest a potential upside of 38.89% from the stock’s current price.
The analysts wrote, “We have not had any recent news on the launch and other developments associated with Symjepi. As a result, we are increasing our therapeutics risk cut to 30%, from 25%, in our Epinephrine Pre-Filled syringe model, commercial assumptions. In addition, we are also pushing-out our timing back for the other” pipeline products models which include APC-1000, APC-2000 and APC-5000 inhalers. The result of these changes is our price target falls to $5, from $14.””
A number of other equities analysts also recently weighed in on ADMP. Zacks Investment Research upgraded Adamis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. B. Riley set a $10.00 target price on Adamis Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, November 30th. Finally, ValuEngine downgraded Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.33.
Several institutional investors and hedge funds have recently modified their holdings of ADMP. B. Riley Financial Inc. acquired a new position in shares of Adamis Pharmaceuticals in the 4th quarter valued at about $1,022,000. Vanguard Group Inc. grew its stake in shares of Adamis Pharmaceuticals by 22.2% in the 2nd quarter. Vanguard Group Inc. now owns 942,940 shares of the specialty pharmaceutical company’s stock valued at $4,903,000 after buying an additional 171,167 shares in the last quarter. EAM Investors LLC grew its stake in shares of Adamis Pharmaceuticals by 58.3% in the 3rd quarter. EAM Investors LLC now owns 371,732 shares of the specialty pharmaceutical company’s stock valued at $1,942,000 after buying an additional 136,970 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Adamis Pharmaceuticals in the 4th quarter valued at approximately $442,000. Finally, Granite Investment Partners LLC bought a new stake in shares of Adamis Pharmaceuticals in the 3rd quarter valued at approximately $457,000. Institutional investors own 16.54% of the company’s stock.
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About Adamis Pharmaceuticals
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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