Adamis Pharmaceuticals (ADMP) Shares Down 5.5%

Adamis Pharmaceuticals Corp (NASDAQ:ADMP) was down 5.5% on Thursday . The stock traded as low as $4.06 and last traded at $4.30. Approximately 786,248 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 731,558 shares. The stock had previously closed at $4.55.

Several equities research analysts have weighed in on ADMP shares. B. Riley reaffirmed a “buy” rating and issued a $9.50 price target on shares of Adamis Pharmaceuticals in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, November 20th. ValuEngine cut shares of Adamis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Raymond James Financial began coverage on shares of Adamis Pharmaceuticals in a report on Tuesday, September 12th. They set an “outperform” rating and a $7.00 price target on the stock. Finally, Maxim Group set a $14.00 price target on shares of Adamis Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.33.

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.93 and a quick ratio of 3.79.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Adamis Pharmaceuticals by 22.2% in the 2nd quarter. Vanguard Group Inc. now owns 942,940 shares of the specialty pharmaceutical company’s stock valued at $4,903,000 after purchasing an additional 171,167 shares in the last quarter. EAM Investors LLC increased its stake in shares of Adamis Pharmaceuticals by 58.3% in the 3rd quarter. EAM Investors LLC now owns 371,732 shares of the specialty pharmaceutical company’s stock worth $1,942,000 after acquiring an additional 136,970 shares in the last quarter. Leisure Capital Management increased its stake in Adamis Pharmaceuticals by 7.2% during the 2nd quarter. Leisure Capital Management now owns 145,909 shares of the specialty pharmaceutical company’s stock valued at $759,000 after purchasing an additional 9,832 shares in the last quarter. Granite Investment Partners LLC bought a new stake in Adamis Pharmaceuticals during the 3rd quarter valued at about $457,000. Finally, Advisor Group Inc. increased its stake in Adamis Pharmaceuticals by 149.9% during the 3rd quarter. Advisor Group Inc. now owns 56,001 shares of the specialty pharmaceutical company’s stock valued at $292,000 after purchasing an additional 33,591 shares in the last quarter. 16.61% of the stock is owned by institutional investors and hedge funds.

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About Adamis Pharmaceuticals

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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