Adamis Pharmaceuticals Corporation [ADMP] stock Upgrade by Maxim Group analyst, price target now $1.50



Adamis Pharmaceuticals Corporation [NASDAQ: ADMP] closed the trading session at $0.73 on 01/10/22. The day’s price range saw the stock hit a low of $0.6068, while the highest price level was $0.8477. The company report on January 10, 2022 that Adamis Pharmaceuticals Submits Fast Track Application to FDA for Tempol for the Treatment and Prevention of COVID-19.

Adamis Pharmaceuticals Corporation (Nasdaq: ADMP) today announced the submission of a Fast Track Application to the U.S. Food and Drug Administration (FDA) for Tempol for the treatment and prevention of COVID-19. Tempol is currently being studied in a Phase 2/3 clinical trial in adult patients with confirmed COVID-19 infection. Tempol has been shown to have antiviral, anti-inflammatory, and antioxidant activity. Although recent oral antiviral drugs have been approved by the FDA, the Company believes that Tempol would provide an unmet medical need because of its unique mechanism of action and safety profile.

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Shyam Kottilil, MBBS, Ph.D., Professor of Medicine at the University of Maryland School of Medicine (UMSOM), Chief of the Division of Clinical Care and Research at UMSOM’s Institute of Human Virology, and Principal Investigator for the ongoing Tempol clinical trial, commented: “We are currently observing extremely high COVID-19 infection rates and we urgently need additional safe and effective oral agents. I am pleased with the conduct of the ongoing clinical trial thus far. If positive effects are observed and result from Tempol’s ongoing clinical trial, I believe that this drug should be expedited through the approval process. Tempol as an oral antiviral and anti-inflammatory agent may be an important countermeasure, if proven safe and effective in this trial.”.

The stocks have a year to date performance of 20.66 percent and weekly performance of 17.36 percent. The stock has been moved at -25.51 percent over the last six months. The stock has performed 1.66 percent around the most recent 30 days and changed -31.13 percent over the most recent 3-months.

If compared to the average trading volume of 5.91M shares, ADMP reached to a volume of 38367480 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 15.56. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 0.19.

ADMP stock trade performance evaluation

Adamis Pharmaceuticals Corporation [ADMP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.36. With this latest performance, ADMP shares gained by 1.66% in over the last four-week period, additionally sinking by -25.51% over the last 6 months – not to mention a rise of 3.25% 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 57.91, with the RSI for the last a single of trading hit 67.93, and the three-weeks RSI is set at 51.38 for Adamis Pharmaceuticals Corporation [ADMP]. The present Moving Average for the last 50 days of trading for this stock 0.7859, while it was recorded at 0.6193 for the last single week of trading, and 0.9261 for the last 200 days.

Adamis Pharmaceuticals Corporation [ADMP]: An insightful look at the core fundamentals

Adamis Pharmaceuticals Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.

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Adamis Pharmaceuticals Corporation [ADMP]: Insider Ownership positions

There are presently around $11 million, or 10.20% of ADMP stock, in the hands of institutional investors. The top three institutional holders of ADMP stocks are: VANGUARD GROUP INC with ownership of 6,509,454, which is approximately 3.098% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 2,744,412 shares of the stock with an approximate value of $2.0 million in ADMP stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $1.01 million in ADMP stock with ownership of nearly 55.321% of the company’s market capitalization.

Positions in Adamis Pharmaceuticals Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 20 institutional holders increased their position in Adamis Pharmaceuticals Corporation [NASDAQ:ADMP] by around 1,770,606 shares. Additionally, 13 investors decreased positions by around 2,853,910 shares, while 25 investors held positions by with 10,456,163 shares. The mentioned changes placed institutional holdings at 15,080,679 shares, according to the latest SEC report filing. ADMP stock had 7 new institutional investments in for a total of 330,550 shares, while 5 institutional investors sold positions of 1,944,116 shares during the same period.