Adamis Pharmaceuticals (NASDAQ:ADMP) Share Price Crosses Below Two Hundred Day Moving Average of $0.51

Posted by MarketBeat News on Aug 6th, 2022

Adamis Pharmaceuticals Co. (NASDAQ:ADMP – Get Rating)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.51 and traded as low as $0.37. Adamis Pharmaceuticals shares last traded at $0.37, with a volume of 543,102 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Adamis Pharmaceuticals in a research note on Saturday. They issued a “hold” rating on the stock.

Adamis Pharmaceuticals Price Performance

The business has a 50 day moving average price of $0.44 and a 200 day moving average price of $0.51.

Adamis Pharmaceuticals (NASDAQ:ADMP – Get Rating) last issued 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). The company had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $3.81 million. On average, research analysts predict that Adamis Pharmaceuticals Co. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Adamis Pharmaceuticals

An institutional investor recently raised its position in Adamis Pharmaceuticals stock. State Street Corp grew its stake in Adamis Pharmaceuticals Co. (NASDAQ:ADMP – Get Rating) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 475,373 shares of the specialty pharmaceutical company’s stock after purchasing an additional 55,168 shares during the period. State Street Corp owned approximately 0.32% of Adamis Pharmaceuticals worth $271,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.52% of the company’s stock.

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.