Zacks Investment Research upgraded shares of Adamas Pharmaceuticals (NASDAQ:ADMS) from a sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “Adamas Pharmaceuticals, Inc. is a specialty pharmaceutical company driven to improve the lives of those affected by chronic disorders of the central nervous system. The company seeks to achieve this by modifying the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products. Adamas is currently developing ADS-5102, its lead wholly-owned product candidate, for the treatment of levodopa-induced dyskinesia (LID) associated with Parkinson’s disease and for the treatment of major symptoms associated with multiple sclerosis in patients with walking impairment. The company’s portfolio also includes Namzaric and Namenda XR, two approved products with Forest Laboratories Holdings Limited, an indirect wholly-owned subsidiary of Allergan plc. Forest is responsible for marketing both products in the United States under an exclusive license from Adamas. “
A number of other equities analysts also recently weighed in on ADMS. HC Wainwright started coverage on shares of Adamas Pharmaceuticals in a research note on Monday, July 16th. They set a buy rating and a $45.00 target price for the company. BidaskClub raised shares of Adamas Pharmaceuticals from a strong sell rating to a sell rating in a research note on Tuesday, July 17th. Mizuho reissued a buy rating and set a $75.00 target price on shares of Adamas Pharmaceuticals in a research note on Friday, August 17th. ValuEngine downgraded shares of Adamas Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Tuesday, August 28th. Finally, Bank of America downgraded shares of Adamas Pharmaceuticals from a buy rating to a neutral rating and lowered their target price for the stock from $36.00 to $25.00 in a research note on Friday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $33.50.
NASDAQ ADMS traded down $0.45 during mid-day trading on Tuesday, reaching $12.55. 6,106 shares of the stock were exchanged, compared to its average volume of 763,295. Adamas Pharmaceuticals has a one year low of $10.58 and a one year high of $44.00. The company has a market capitalization of $328.03 million, a PE ratio of -3.13 and a beta of 1.53. The company has a quick ratio of 8.74, a current ratio of 8.95 and a debt-to-equity ratio of 1.01.
Adamas Pharmaceuticals (NASDAQ:ADMS) last announced its earnings results on Thursday, November 1st. The specialty pharmaceutical company reported ($1.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.12. Adamas Pharmaceuticals had a negative net margin of 617.27% and a negative return on equity of 106.74%. The business had revenue of $10.61 million during the quarter, compared to the consensus estimate of $10.10 million. As a group, equities analysts expect that Adamas Pharmaceuticals will post -5.2 earnings per share for the current fiscal year.
In other Adamas Pharmaceuticals news, CFO Alfred G. Merriweather sold 1,665 shares of Adamas Pharmaceuticals stock in a transaction on Friday, September 21st. The shares were sold at an average price of $19.18, for a total value of $31,934.70. Following the completion of the sale, the chief financial officer now directly owns 25,460 shares of the company’s stock, valued at $488,322.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory T. Went purchased 3,850 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was bought at an average cost of $12.98 per share, with a total value of $49,973.00. Following the completion of the purchase, the chief executive officer now owns 182,610 shares of the company’s stock, valued at approximately $2,370,277.80. The disclosure for this purchase can be found here. Insiders own 24.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ADMS. Wells Fargo & Company MN increased its stake in Adamas Pharmaceuticals by 7.5% in the first quarter. Wells Fargo & Company MN now owns 44,138 shares of the specialty pharmaceutical company’s stock valued at $1,055,000 after purchasing an additional 3,090 shares in the last quarter. Northern Trust Corp increased its stake in Adamas Pharmaceuticals by 12.7% in the first quarter. Northern Trust Corp now owns 223,055 shares of the specialty pharmaceutical company’s stock valued at $5,330,000 after purchasing an additional 25,167 shares in the last quarter. BlackRock Inc. increased its stake in Adamas Pharmaceuticals by 10.4% in the first quarter. BlackRock Inc. now owns 1,484,793 shares of the specialty pharmaceutical company’s stock valued at $35,486,000 after purchasing an additional 139,385 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Adamas Pharmaceuticals by 20.6% in the first quarter. The Manufacturers Life Insurance Company now owns 13,573 shares of the specialty pharmaceutical company’s stock valued at $324,000 after purchasing an additional 2,322 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Adamas Pharmaceuticals by 11.2% during the first quarter. California State Teachers Retirement System now owns 26,179 shares of the specialty pharmaceutical company’s stock valued at $626,000 after buying an additional 2,645 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.
Adamas Pharmaceuticals Company Profile
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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