Needham Believes Adamas Pharmaceuticals (NASDAQ: ADMS) Still Has Room to Grow

By Jason Carr

In a report issued on September 15, Alan Carr from Needham reiterated a Buy rating on Adamas Pharmaceuticals (NASDAQ: ADMS), with a price target of $38. The company’s shares closed on Friday at $21.53, close to its 52-week high of $22.58.

According to TipRanks.com, Carr is a 4-star analyst with an average return of 7.3% and a 44.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.

Currently, the analyst consensus on Adamas Pharmaceuticals is Strong Buy and the average price target is $36.40, representing a 69.1% upside.

In a report issued on August 31, Piper Jaffray also reiterated a Buy rating on the stock with a $30 price target.

The company has a one year high of $22.58 and a one year low of $12.10. Currently, Adamas Pharmaceuticals has an average volume of 729.6K.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.

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Adamas Pharmaceuticals, Inc. operates as a pharmaceutical company, which engages in discovering chrono-synchronous therapies. It involves in the development and commercialization of therapeutics targeting chronic disorders of the central nervous system. The company was founded by Gregory T. Went on November 15, 2000 and is headquartered in Emeryville, CA.