Adamis Pharmaceuticals (NASDAQ:ADMP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Adamis Pharmaceuticals (NASDAQ:ADMP – Get Rating) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Shares of NASDAQ:ADMP opened at $0.41 on Friday. The company has a fifty day moving average of $0.49 and a 200-day moving average of $0.62. Adamis Pharmaceuticals has a 52-week low of $0.31 and a 52-week high of $1.48.

Adamis Pharmaceuticals (NASDAQ:ADMP – Get Rating) last announced its quarterly earnings results on Monday, May 16th. The specialty pharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Adamis Pharmaceuticals had a negative return on equity of 100.63% and a negative net margin of 458.77%. On average, sell-side analysts anticipate that Adamis Pharmaceuticals will post -0.15 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in Adamis Pharmaceuticals by 3,449.4% in the 3rd quarter. Millennium Management LLC now owns 557,157 shares of the specialty pharmaceutical company’s stock valued at $540,000 after acquiring an additional 541,460 shares in the last quarter. State Street Corp increased its stake in Adamis Pharmaceuticals by 13.1% in the 1st quarter. State Street Corp now owns 475,373 shares of the specialty pharmaceutical company’s stock valued at $271,000 after buying an additional 55,168 shares during the last quarter. Virtu Financial LLC increased its stake in Adamis Pharmaceuticals by 9.6% in the 4th quarter. Virtu Financial LLC now owns 224,561 shares of the specialty pharmaceutical company’s stock valued at $136,000 after buying an additional 19,691 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Adamis Pharmaceuticals by 735.2% during the 4th quarter. JPMorgan Chase & Co. now owns 218,573 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 192,403 shares during the last quarter. Finally, Capital CS Group LLC purchased a new stake in shares of Adamis Pharmaceuticals during the 1st quarter worth approximately $40,000. 9.52% of the stock is currently owned by institutional investors and hedge funds.

About Adamis Pharmaceuticals (Get Rating)

Adamis Pharmaceuticals Corporation, a specialty biopharmaceutical company, develops and commercializes products in the therapeutic areas of allergy, opioid overdose, respiratory, and inflammatory disease in the United States. The company's product candidates comprise SYMJEPI epinephrine pre-filled syringe injectable products for use in the emergency treatment of acute allergic reactions, including anaphylaxis; dry powder inhaler products for the treatment of asthma; and naloxone injection for the treatment of opioid overdose.

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