Adamis Pharmaceuticals Corp (ADMP) Expected to Post Quarterly Sales of $6.97 Million

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Equities analysts forecast that Adamis Pharmaceuticals Corp (NASDAQ:ADMP) will post sales of $6.97 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Adamis Pharmaceuticals’ earnings. The lowest sales estimate is $5.10 million and the highest is $8.22 million. Adamis Pharmaceuticals posted sales of $2.84 million during the same quarter last year, which suggests a positive year-over-year growth rate of 145.4%. The company is expected to announce its next quarterly earnings report on Thursday, March 21st.

According to Zacks, analysts expect that Adamis Pharmaceuticals will report full year sales of $19.43 million for the current fiscal year, with estimates ranging from $16.64 million to $21.74 million. For the next fiscal year, analysts expect that the firm will post sales of $34.19 million, with estimates ranging from $27.48 million to $47.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Adamis Pharmaceuticals.

Adamis Pharmaceuticals (NASDAQ:ADMP) last released its earnings results on Friday, August 10th. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.10). The company had revenue of $3.92 million during the quarter, compared to the consensus estimate of $4.14 million. Adamis Pharmaceuticals had a negative return on equity of 104.36% and a negative net margin of 248.43%.

Several research firms have recently weighed in on ADMP. HC Wainwright set a $7.00 target price on shares of Adamis Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, September 28th. Zacks Investment Research raised shares of Adamis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research report on Tuesday, July 24th. Maxim Group reissued a “buy” rating and issued a $13.00 target price on shares of Adamis Pharmaceuticals in a research report on Wednesday, September 12th. Finally, B. Riley downgraded shares of Adamis Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $7.50 to $2.50 in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $6.80.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acropolis Investment Management LLC acquired a new position in shares of Adamis Pharmaceuticals in the 3rd quarter valued at about $105,000. Dimensional Fund Advisors LP acquired a new position in shares of Adamis Pharmaceuticals in the 1st quarter valued at about $244,000. Northern Trust Corp boosted its holdings in shares of Adamis Pharmaceuticals by 50.7% in the 1st quarter. Northern Trust Corp now owns 139,536 shares of the specialty pharmaceutical company’s stock valued at $489,000 after buying an additional 46,924 shares during the period. BlackRock Inc. boosted its holdings in shares of Adamis Pharmaceuticals by 7.7% in the 2nd quarter. BlackRock Inc. now owns 293,328 shares of the specialty pharmaceutical company’s stock valued at $939,000 after buying an additional 20,871 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Adamis Pharmaceuticals by 71.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,200,000 shares of the specialty pharmaceutical company’s stock valued at $3,360,000 after buying an additional 500,000 shares during the period. 15.57% of the stock is owned by institutional investors.

Shares of ADMP traded down $0.05 during midday trading on Thursday, hitting $2.57. The company had a trading volume of 280,434 shares, compared to its average volume of 761,314. The company has a market capitalization of $131.47 million, a P/E ratio of -2.86 and a beta of 0.71. Adamis Pharmaceuticals has a 52 week low of $2.20 and a 52 week high of $5.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.54 and a current ratio of 0.78.

About Adamis Pharmaceuticals

Adamis Pharmaceuticals Corporation, a specialty biopharmaceutical company, develops and commercializes products in the therapeutic areas of allergy and respiratory disease in the United States. The company's specialty pharmaceutical product candidates comprise Symjepi (epinephrine) Injection pre-filled syringe (PFS) for use in the emergency treatment of acute allergic reactions, including anaphylaxis.

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