Maxim Group Thinks Adamis Pharma’s Stock is Going to Recover

By Austin Angelo

In a report released today, Jason Kolbert from Maxim Group assigned a Buy rating to Adamis Pharma (NASDAQ: ADMP), with a price target of $5. The company’s shares opened today at $3.55, close to its 52-week low of $3.20.

Kolbert commented:

“We have not had any recent news on the launch and other developments associated with Symjepi. As a result, we are increasing our therapeutics risk cut to 30%, from 25%, in our Epinephrine Pre-Filled syringe model, commercial assumptions. In addition, we are also pushing-out our timing back for the “other” pipeline products models which include APC-1000, APC-2000 and APC-5000 inhalers. The result of these changes is our price target falls to $5, from $14.”

According to TipRanks.com, Kolbert is ranked 0 out of 5 stars with an average return of -6.9% and a 32.6% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and Arbutus Biopharma Corporation.

Adamis Pharma has an analyst consensus of Strong Buy, with a price target consensus of $7.17.

The company has a one-year high of $6.45 and a one-year low of $3.20. Currently, Adamis Pharma has an average volume of 686K.

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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.