Adamis Pharmaceuticals Corporation [NASDAQ: ADMP] stock went on an upward path that rose over 5.44% on Wednesday, amounting to a one-week price increase of more than 7.90%. The company report on November 16, 2020 that Adamis Pharmaceuticals Receives a Complete Response Letter from the FDA Regarding ZIMHI.
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) (“Adamis”) announced that after the close of business and the U.S. markets on November 13th, it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for Adamis’ ZIMHI™ high dose naloxone injection product for the treatment of opioid overdose. The CRL stated that the FDA determined it cannot approve the NDA in its present form and provided recommendations needed for resubmission.
A CRL is issued by the FDA’s Center for Drug Evaluation and Research when it has completed its review of a file and questions remain that preclude the approval of the NDA in its current form. The questions raised by the FDA related generally to new Chemistry, Manufacturing and Controls (CMC) issues. It should be noted that no issues related to “extractables and leechables testing”, that were associated with the previous initial CRL that the company received relating to the product, were noted by the FDA. The company’s plan is to provide the FDA with additional analysis and information in order to attempt to satisfy the CRL items. The company will request a Type A meeting or consider other options to resolve the issues.
Over the last 12 months, ADMP stock dropped by -25.09%. The average equity rating for ADMP stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $40.47 million, with 93.66 million shares outstanding and 92.48 million shares in the current float. Compared to the average trading volume of 4.34M shares, ADMP stock reached a trading volume of 10188233 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Adamis Pharmaceuticals Corporation [ADMP]:
Maxim Group have made an estimate for Adamis Pharmaceuticals Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 13, 2020. The new note on the price target was released on February 27, 2020, representing the official price target for Adamis Pharmaceuticals Corporation stock. On July 16, 2019, analysts decreased their price target for ADMP shares from 1.90 to 1.10.
The Average True Range (ATR) for Adamis Pharmaceuticals Corporation is set at 0.06, with the Price to Sales ratio for ADMP stock in the period of the last 12 months amounting to 2.20. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 0.13.
ADMP Stock Performance Analysis:
Adamis Pharmaceuticals Corporation [ADMP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.90. With this latest performance, ADMP shares dropped by -42.65% in over the last four-week period, additionally sinking by -11.88% over the last 6 months – not to mention a drop of -25.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADMP stock in for the last two-week period is set at 29.17, with the RSI for the last a single of trading hit 26.36, and the three-weeks RSI is set at 32.50 for Adamis Pharmaceuticals Corporation [ADMP]. The present Moving Average for the last 50 days of trading for this stock 0.7263, while it was recorded at 0.4141 for the last single week of trading, and 0.6492 for the last 200 days.
Insight into Adamis Pharmaceuticals Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Adamis Pharmaceuticals Corporation [ADMP] shares currently have an operating margin of -135.67 and a Gross Margin at +17.80. Adamis Pharmaceuticals Corporation’s Net Margin is presently recorded at -132.53.
Return on Total Capital for ADMP is now -67.13, given the latest momentum, and Return on Invested Capital for the company is -69.60. Return on Equity for this stock declined to -70.85, with Return on Assets sitting at -54.46. When it comes to the capital structure of this company, Adamis Pharmaceuticals Corporation [ADMP] has a Total Debt to Total Equity ratio set at 11.32. Additionally, ADMP Total Debt to Total Capital is recorded at 10.17, with Total Debt to Total Assets ending up at 8.28. Long-Term Debt to Equity for the company is recorded at 4.11, with the Long-Term Debt to Total Capital now at 3.69.
Reflecting on the efficiency of the workforce at the company, Adamis Pharmaceuticals Corporation [ADMP] managed to generate an average of -$171,385 per employee. Receivables Turnover for the company is 14.58 with a Total Asset Turnover recorded at a value of 0.41.Adamis Pharmaceuticals Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.
ADMP Stock EPS
With the latest financial reports released by the company, Adamis Pharmaceuticals Corporation posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADMP.
Adamis Pharmaceuticals Corporation [ADMP] Insider Position Details
There are presently around $3 million, or 7.00% of ADMP stock, in the hands of institutional investors. The top three institutional holders of ADMP stocks are: VANGUARD GROUP INC with ownership of 1,953,423, which is approximately 2.836% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 1,333,297 shares of the stock with an approximate value of $0.58 million in ADMP stocks shares; and MAVEN SECURITIES LTD, currently with $0.43 million in ADMP stock with ownership of nearly New of the company’s market capitalization.
Positions in Adamis Pharmaceuticals Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 18 institutional holders increased their position in Adamis Pharmaceuticals Corporation [NASDAQ:ADMP] by around 2,008,813 shares. Additionally, 22 investors decreased positions by around 520,136 shares, while 19 investors held positions by with 4,073,903 shares. The mentioned changes placed institutional holdings at 6,602,852 shares, according to the latest SEC report filing. ADMP stock had 10 new institutional investments in for a total of 1,258,002 shares, while 11 institutional investors sold positions of 200,183 shares during the same period.