Adamis Pharma (ADMP) Gets a Hold Rating from B.Riley FBR

By Austin Angelo

B.Riley FBR analyst Andrew D’silva reiterated a Hold rating on Adamis Pharma (ADMPResearch Report) today and set a price target of $2.50. The company’s shares opened today at $2.39, close to its 52-week low of $2.01.

D’silva wrote:

“Adamis (ADMP) filed its 10-K/PR for 2018 on 3/15. ADMP doesn’t host earnings calls. Its 4Q18 top-line/EPS came in at $4.2M/$(0.27), versus our/consensus estimates of $4.2M/$(0.22) and $5.5M/$(0.19) (includes three covering firms), respectively. Meanwhile, ADMP’s 4Q18 FCF was $(12.6)M vs our $(8.6)M estimate; we continue to believe ADMP will need to raise capital in mid-2019. ADMP’s top-line was impacted by a lackluster compounding performance, as 2018 sales grew 15% Y/Y , well below management’s target of at least 30%. Therefore, the segment is seeing operational/personnel changes and ADMP is looking to get its compounding subsidiary, USC, to profitability by mid-2019. We believe it’s important to note, ADMP had multiple missteps with USC, particularly as it relates to setting expectations.”

According to TipRanks.com, D’silva is a 4-star analyst with an average return of 10.7% and a 47.8% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Oramed Pharmaceuticals, and Sorrento Therapeutics.

Adamis Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $6.25.

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Based on Adamis Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.88 million. In comparison, last year the company had a GAAP net loss of $8.03 million.

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Adamis Pharmaceuticals Corp. is a biopharmaceutical company which is focused on developing and commercializing products in the therapeutic areas of respiratory disease and allergy.. Its activities include the combination of pharmaceuticals and biotechnology to produce medicines for patients, and physicians.