Goldman Sachs Group Inc. raised its stake in shares of Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) by 212.9% during the first quarter, Holdings Channel reports. The firm owned 60,897 shares of the specialty pharmaceutical company’s stock after buying an additional 41,436 shares during the period. Goldman Sachs Group Inc.’s holdings in Adamas Pharmaceuticals were worth $1,066,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in ADMS. American International Group Inc. increased its stake in Adamas Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 10,284 shares of the specialty pharmaceutical company’s stock valued at $180,000 after buying an additional 682 shares during the period. Wells Fargo & Company MN increased its stake in Adamas Pharmaceuticals by 28.4% in the first quarter. Wells Fargo & Company MN now owns 15,166 shares of the specialty pharmaceutical company’s stock valued at $266,000 after buying an additional 3,358 shares during the period. Trexquant Investment LP acquired a new stake in Adamas Pharmaceuticals during the first quarter valued at approximately $287,000. Bank of New York Mellon Corp increased its stake in Adamas Pharmaceuticals by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 65,830 shares of the specialty pharmaceutical company’s stock valued at $1,152,000 after buying an additional 1,563 shares during the period. Finally, State of Wisconsin Investment Board acquired a new stake in Adamas Pharmaceuticals during the first quarter valued at approximately $1,750,000. 71.33% of the stock is currently owned by institutional investors and hedge funds.
Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) traded up 3.87% during mid-day trading on Friday, hitting $15.84. 329,548 shares of the stock traded hands. The stock’s market cap is $356.62 million. Adamas Pharmaceuticals, Inc. has a 12-month low of $12.10 and a 12-month high of $19.50. The company has a 50 day moving average of $17.25 and a 200-day moving average of $16.85.
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 analysts’ consensus estimates of ($0.81) by $0.12. The business had revenue of $0.02 million for 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 was down 90.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.78) earnings per share. Equities research analysts forecast that Adamas Pharmaceuticals, Inc. will post ($3.71) earnings per share for the current year.
Several research firms have recently commented on ADMS. Zacks Investment Research downgraded shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub downgraded shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Noble Financial reaffirmed a “buy” rating on shares of Adamas Pharmaceuticals in a report on Friday, May 12th. Mizuho reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Adamas Pharmaceuticals in a report on Tuesday, June 6th. Finally, Cowen and Company set a $45.00 price objective on shares of Adamas Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.00.
In other news, major shareholder Great Point Partners Llc sold 350,000 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 731,041 shares of company stock worth $12,476,149. Insiders own 29.00% 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.
Want to see what other hedge funds are holding ADMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS).
Receive News & Ratings for Adamas Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adamas Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.