Zacks Investment Research Downgrades Adamis Pharmaceuticals (NASDAQ:ADMP) to Hold

Adamis Pharmaceuticals (NASDAQ:ADMPGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Adamis Pharmaceuticals Corporation, formerly Cellegy Pharmaceuticals, Inc., is a specialty pharmaceutical company engaged engages in the research, development, and commercialization of prescription medicines for the treatment of viral infections. Adamis Pharmaceuticals is composed of two wholly owned subsidiaries, Adamis Labs and Adamis Viral Therapies. Adamis Labs is a commercial stage specialty pharmaceutical company targeting high-prescribing physicians in the allergy, respiratory and pediatric medicine market segments. To complement and add to the sales efforts of Adamis Labs, Adamis Viral Therapies is focused on the development of patented, highly-valued proprietary vaccine technology that Adamis believes has the potential to prevent or treat infections such as influenza or chronic hepatitis. Adamis also provides packaging for pharmaceutical and nutraceutical products. The company is headquartered in Del Mar, California. “

Separately, StockNews.com began coverage on Adamis Pharmaceuticals in a research note on Sunday. They set a “sell” rating for the company.

NASDAQ:ADMP traded up $0.04 on Thursday, hitting $0.45. 5,331 shares of the stock were exchanged, compared to its average volume of 1,332,386. The stock has a fifty day moving average of $0.48 and a 200-day moving average of $0.61. Adamis Pharmaceuticals has a fifty-two week low of $0.31 and a fifty-two week high of $1.48.

Adamis Pharmaceuticals (NASDAQ:ADMPGet Rating) last announced its quarterly earnings results on Monday, May 16th. The specialty pharmaceutical company reported ($0.07) 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%. As a group, research analysts anticipate that Adamis Pharmaceuticals will post -0.15 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Adamis Pharmaceuticals by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,333,913 shares of the specialty pharmaceutical company’s stock worth $1,293,000 after buying an additional 47,774 shares during the period. Millennium Management LLC boosted its position in shares of Adamis Pharmaceuticals by 3,449.4% in the third quarter. Millennium Management LLC now owns 557,157 shares of the specialty pharmaceutical company’s stock worth $540,000 after buying an additional 541,460 shares during the period. State Street Corp boosted its position in shares of Adamis Pharmaceuticals by 13.1% in the first quarter. State Street Corp now owns 475,373 shares of the specialty pharmaceutical company’s stock worth $271,000 after buying an additional 55,168 shares during the period. Virtu Financial LLC boosted its holdings in Adamis Pharmaceuticals by 9.6% in the fourth quarter. Virtu Financial LLC now owns 224,561 shares of the specialty pharmaceutical company’s stock valued at $136,000 after purchasing an additional 19,691 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Adamis Pharmaceuticals by 735.2% in the fourth quarter. JPMorgan Chase & Co. now owns 218,573 shares of the specialty pharmaceutical company’s stock valued at $132,000 after purchasing an additional 192,403 shares during the last quarter. 9.52% of the stock is owned by institutional investors.

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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