Stonepine Capital Management LLC boosted its stake in Adamas Pharmaceuticals Inc (NASDAQ:ADMS) by 44.6% during the second quarter, Holdings Channel.com reports. The firm owned 1,423,578 shares of the specialty pharmaceutical company’s stock after buying an additional 439,249 shares during the period. Adamas Pharmaceuticals accounts for about 6.1% of Stonepine Capital Management LLC’s portfolio, making the stock its 5th largest position. Stonepine Capital Management LLC owned about 0.05% of Adamas Pharmaceuticals worth $8,826,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ADMS. BlackRock Inc. increased its stake in Adamas Pharmaceuticals by 5.4% in the 2nd quarter. BlackRock Inc. now owns 2,195,088 shares of the specialty pharmaceutical company’s stock worth $13,609,000 after purchasing an additional 112,278 shares during the period. Healthcare Value Capital LLC purchased a new position in Adamas Pharmaceuticals in the 1st quarter worth approximately $711,000. Emerald Advisers LLC increased its stake in Adamas Pharmaceuticals by 11.8% in the 2nd quarter. Emerald Advisers LLC now owns 700,176 shares of the specialty pharmaceutical company’s stock worth $4,341,000 after purchasing an additional 73,929 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in Adamas Pharmaceuticals by 9.1% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 616,664 shares of the specialty pharmaceutical company’s stock worth $3,823,000 after purchasing an additional 51,345 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in Adamas Pharmaceuticals in the 1st quarter worth approximately $304,000. 63.44% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on ADMS. HC Wainwright reduced their target price on Adamas Pharmaceuticals from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 28th. Evercore ISI reissued a “buy” rating and set a $55.00 target price on shares of Adamas Pharmaceuticals in a research note on Monday, August 12th. ValuEngine raised Adamas Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen set a $5.00 target price on Adamas Pharmaceuticals and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald began coverage on Adamas Pharmaceuticals in a research note on Monday, September 9th. They set a “neutral” rating and a $8.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $20.43.
Adamas Pharmaceuticals (NASDAQ:ADMS) last posted its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.98) by $0.08. Adamas Pharmaceuticals had a negative return on equity of 149.97% and a negative net margin of 241.41%. The firm had revenue of $12.69 million for the quarter, compared to analysts’ expectations of $12.62 million. On average, equities research analysts predict that Adamas Pharmaceuticals Inc will post -3.63 EPS for the current year.
Adamas Pharmaceuticals Company Profile
Adamas Pharmaceuticals, Inc focuses on the discovery, development, and commercialization of medicines for patients suffering from chronic neurologic disorders. The company offers GOCOVRI, an extended release capsule for the treatment of dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications.
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