Maxim Group reaffirmed their buy rating on shares of Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) in a research note issued to investors on Monday morning. They currently have a $13.00 target price on the specialty pharmaceutical company’s stock.
“Adamis reported the second quarter (10Q) 2017, with revenues of $3.8M and a net loss of $4.9M for the period. The 10Q shows that the company ended the period with $11.8M in cash. However, our understanding is that the company now has close to $25M in cash as a result of cash brought in from warrant holders associated with the last financing.”,” Maxim Group’s analyst wrote.
Separately, ValuEngine upgraded shares of Adamis Pharmaceuticals Corporation from a sell rating to a hold rating in a report on Friday, June 16th.
Adamis Pharmaceuticals Corporation (ADMP) opened at 5.35 on Monday. The firm’s 50-day moving average price is $4.88 and its 200 day moving average price is $4.33. Adamis Pharmaceuticals Corporation has a one year low of $2.40 and a one year high of $6.45. The firm’s market capitalization is $167.73 million.
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A number of institutional investors have recently modified their holdings of the company. First Allied Advisory Services Inc. bought a new position in shares of Adamis Pharmaceuticals Corporation during the second quarter worth approximately $114,000. Stonebridge Capital Advisors LLC increased its position in shares of 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 buying an additional 5,000 shares in the last quarter. Wells Fargo & Company MN bought a new position in shares of Adamis Pharmaceuticals Corporation during the second quarter worth approximately $169,000. IFP Advisors Inc increased its position in shares of 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 buying an additional 32,965 shares in the last quarter. Finally, Sterling Global Strategies LLC increased its position in shares of Adamis Pharmaceuticals Corporation by 6.5% in the first quarter. Sterling Global Strategies LLC now owns 42,600 shares of the specialty pharmaceutical company’s stock worth $181,000 after buying an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 11.61% of the company’s stock.
About Adamis Pharmaceuticals Corporation
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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