Maxim Group Gives a Buy Rating to Adamis Pharma (ADMP)

By Austin Angelo

Maxim Group analyst Jason McCarthy assigned a Buy rating to Adamis Pharma (ADMPResearch Report) yesterday and set a price target of $1.50. The company’s shares closed last Wednesday at $0.79.

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 29.3% and a 48.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and SELLAS Life Sciences Group.

Currently, the analyst consensus on Adamis Pharma is a Moderate Buy with an average price target of $1.50.

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Based on Adamis Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.93 million and GAAP net loss of $11.26 million. In comparison, last year the company earned revenue of $5.76 million and had a GAAP net loss of $7.74 million.

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Adamis Pharmaceuticals Corp. is a biopharmaceutical company, which engages in the discovery, development and sales of pharmaceutical, specialty biopharmaceutical and other drug products. It offers Symjepi product for allergy, respiratory, opioid overdose, and erectile dysfunction (ED), markets. The company was founded in June 2006 and is headquartered in San Diego, CA.