Adamis Pharma Received its Third Buy in a Row

By Austin Angelo

After Maxim Group and Raymond James assigned a Buy rating to Adamis Pharma in the last month, the company received another Buy, this time from B.Riley FBR. Analyst Andrew D’silva maintained a Buy rating on Adamis Pharma (NASDAQ: ADMP) today and set a price target of $7.50. The company’s shares closed yesterday at $3.80.

D’silva wrote:

“Buy-rated Adamis Pharmaceuticals Corporation (ADMP , $7.50 PT) will likely file its 2017 10-K later this month; the company does not hold earnings calls. ADMP has put out several press releases since our last update note, primarily related to its pipeline: The company announced its compounding subsidiary developed a unique compound to manage ulcers in horses, noted it submitted an IND application to the FDA for naloxone to be used with its pre-filled syringe (PFS) platform—the same PFS platform utilized with Symjepi—for the treatment of opioid overdoses, and noted that the FDA accepted for review its sNDA for the pediatric version of Symjepi.”

According to TipRanks.com, D’silva is a 4-star analyst with an average return of 22.2% and a 62.3% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Oramed Pharmaceuticals, Kindred Biosciences, and Cytosorbents Corp.

Currently, the analyst consensus on Adamis Pharma is Strong Buy and the average price target is $6.50, representing a 71.1% upside.

In a report issued on March 6, Maxim Group also maintained a Buy rating on the stock with a $5 price target.

Based on Adamis Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.39 million and GAAP net loss of $6.77 million. In comparison, last year the company earned revenue of $2.47 million and had a GAAP net loss of $670.2K.

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Adamis Pharmaceuticals Corp. is a biopharmaceutical company engages in the provision of medical development. Its activities include the combination of pharmaceuticals and biotechnology to produce medicines for patients, and physicians. It focuses on products such as inhaler technology in the field of allergy and respiratory diseases.