Granite Point Capital Management L.P. boosted its stake in Adamas Pharmaceuticals Inc (NASDAQ:ADMS) by 26.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,515 shares of the specialty pharmaceutical company’s stock after purchasing an additional 70,000 shares during the period. Adamas Pharmaceuticals comprises about 1.5% of Granite Point Capital Management L.P.’s holdings, making the stock its 5th largest holding. Granite Point Capital Management L.P. owned about 1.46% of Adamas Pharmaceuticals worth $7,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in Adamas Pharmaceuticals in the 2nd quarter valued at approximately $109,000. SG Americas Securities LLC bought a new position in Adamas Pharmaceuticals in the 3rd quarter valued at approximately $110,000. Quantbot Technologies LP bought a new position in Adamas Pharmaceuticals in the 3rd quarter valued at approximately $119,000. Virtu KCG Holdings LLC bought a new position in Adamas Pharmaceuticals in the 2nd quarter valued at approximately $184,000. Finally, Sei Investments Co. lifted its stake in Adamas Pharmaceuticals by 1,105.0% in the 3rd quarter. Sei Investments Co. now owns 8,760 shares of the specialty pharmaceutical company’s stock valued at $185,000 after purchasing an additional 8,033 shares during the last quarter. 79.45% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on ADMS shares. ValuEngine raised shares of Adamas Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $30.00 price target on shares of Adamas Pharmaceuticals in a research note on Wednesday, September 20th. Zacks Investment Research downgraded shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. William Blair reaffirmed an “ourperform” rating on shares of Adamas Pharmaceuticals in a research note on Friday, August 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $48.00 price target (up previously from $26.00) on shares of Adamas Pharmaceuticals in a research note on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.00.
Adamas Pharmaceuticals (NASDAQ:ADMS) last released its quarterly earnings results on Thursday, November 2nd. The specialty pharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.03). During the same quarter in the previous year, the company earned ($0.66) EPS. The business’s revenue was down 99.3% compared to the same quarter last year. research analysts expect that Adamas Pharmaceuticals Inc will post -3.87 earnings per share for the current fiscal year.
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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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