Mizuho reissued their buy rating on shares of Adamas Pharmaceuticals (NASDAQ:ADMS) in a report issued on Friday morning. The brokerage currently has a $75.00 target price on the specialty pharmaceutical company’s stock.
“We hosted an investor lunch with a practicing neurologist who discussed his experience with Gocovri. Specifically, he reported hallucinations in approximately 50% of his patients, vs. the 21% reported in the product label. This doctor attributed the side effect to rapid titration to the 274 mg daily dose, and has started to experiment with starting patients on the lowest 68.5 mg dose of the product (but was concerned that efficacy was modest at this level). This physician treated ~20 patients so far, but only 5-7 of these currently remain on the drug. We learned that for his patients 65 years had to be stepped down in dose or stop taking the product.”,” the firm’s analyst commented.
A number of other analysts also recently weighed in on ADMS. BidaskClub raised shares of Adamas Pharmaceuticals from a strong sell rating to a sell rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of Adamas Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, May 9th. HC Wainwright set a $45.00 price objective on shares of Adamas Pharmaceuticals and gave the stock a buy rating in a report on Monday, August 6th. Finally, ValuEngine raised shares of Adamas Pharmaceuticals from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $45.00.
Shares of Adamas Pharmaceuticals stock opened at $22.43 on Friday. The company has a quick ratio of 9.74, a current ratio of 9.92 and a debt-to-equity ratio of 0.78. Adamas Pharmaceuticals has a fifty-two week low of $13.85 and a fifty-two week high of $44.00. The firm has a market capitalization of $628.10 million, a price-to-earnings ratio of -5.65 and a beta of 1.42.
Adamas Pharmaceuticals (NASDAQ:ADMS) last issued its quarterly earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($1.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.15. Adamas Pharmaceuticals had a negative net margin of 1,138.59% and a negative return on equity of 104.86%. The firm had revenue of $7.57 million during the quarter, compared to the consensus estimate of $4.84 million. equities research analysts expect that Adamas Pharmaceuticals will post -5.37 earnings per share for the current fiscal year.
In other news, COO Richard King sold 2,501 shares of the firm’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $25.48, for a total transaction of $63,725.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer J. Rhodes sold 1,002 shares of the firm’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $25.48, for a total transaction of $25,530.96. The disclosure for this sale can be found here. 24.60% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in Adamas Pharmaceuticals by 216.1% during the 4th quarter. Wells Fargo & Company MN now owns 41,048 shares of the specialty pharmaceutical company’s stock valued at $1,390,000 after purchasing an additional 28,061 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Adamas Pharmaceuticals during the 4th quarter valued at about $239,000. Dupont Capital Management Corp bought a new position in Adamas Pharmaceuticals during the 1st quarter valued at about $2,168,000. Alps Advisors Inc. lifted its holdings in Adamas Pharmaceuticals by 39.0% during the 1st quarter. Alps Advisors Inc. now owns 35,094 shares of the specialty pharmaceutical company’s stock valued at $839,000 after purchasing an additional 9,853 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in Adamas Pharmaceuticals during the 1st quarter valued at about $368,000. 92.32% of the stock is owned by institutional investors.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc discovers, develops, and sells therapies for chronic neurologic disorders. The company's approved/commercial product is GOCOVRI, an amantadine therapy for the treatment of levodopa-induced dyskinesia in patients with Parkinson's disease. Its partnered approved/commercial products include Namzaric (memantine hydrochloride extended-release and donepezil hydrochloride) capsules; and Namenda XR (memantine hydrochloride) extended release capsules for the treatment of moderate to severe Alzheimer's disease.
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