Adamis Pharmaceuticals (NASDAQ:ADMP) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Adamis Pharmaceuticals (NASDAQ:ADMP – Get Rating) in a report issued on Saturday. The brokerage set a “hold” rating on the specialty pharmaceutical company’s stock.

Adamis Pharmaceuticals Trading Down 1.8 %

Shares of NASDAQ ADMP opened at $0.37 on Friday. The company’s 50-day simple moving average is $0.44 and its 200-day simple moving average is $0.51. 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 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). The firm had revenue of $1.16 million for the quarter, compared to analyst estimates of $3.81 million. Equities analysts expect that Adamis Pharmaceuticals will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Adamis Pharmaceuticals

A hedge fund recently raised its stake in Adamis Pharmaceuticals stock. State Street Corp increased its holdings in shares of Adamis Pharmaceuticals Co. (NASDAQ:ADMP – Get Rating) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,373 shares of the specialty pharmaceutical company’s stock after acquiring an additional 55,168 shares during the quarter. State Street Corp owned about 0.32% of Adamis Pharmaceuticals worth $271,000 at the end of the most recent reporting period. 9.52% of the stock is owned by hedge funds and other institutional investors.

About Adamis Pharmaceuticals

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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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