Maxim Group analyst Jason McCarthy maintained a Buy rating on Adamis Pharma (ADMP) yesterday and set a price target of $6. The company’s shares opened today at $1.46, close to its 52-week low of $1.20.
McCarthy noted:
“Adamis provided an update on the ongoing launch of Symjepi. Specifically, the company announced that Sandoz (Novartis, NVS – NR) has launched into the US retail market. The institutional (hospitals and clinic) launch which occurred earlier this year continues its progress with wholesalers fully stocked.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -19.4% and a 24.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.
Currently, the analyst consensus on Adamis Pharma is a Strong Buy with an average price target of $5.30, representing a 263.0% upside. In a report issued on July 2, Dawson James also initiated coverage with a Buy rating on the stock.
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The company has a one-year high of $4.25 and a one-year low of $1.20. Currently, Adamis Pharma has an average volume of 357.5K.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADMP in relation to earlier this year.
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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.
