Adamis Pharmaceuticals Corporation [NASDAQ: ADMP] closed the trading session at $0.15 on 10/11/22. The day’s price range saw the stock hit a low of $0.12, while the highest price level was $0.15. The company report on October 3, 2022 that Adamis Announces Review of Strategic Alternatives.
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Adamis Pharmaceuticals Corporation (NASDAQ: ADMP), a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease, announced today that following the recently announced halting of the Company’s Phase 2/3 clinical trial examining the effects of Tempol in high risk subjects with early COVID-19 infection, it has initiated a process to explore a range of strategic and financing alternatives focused on maximizing stockholder value. Potential alternatives that may be explored or evaluated include a partnership or sale of one or both of the Company’s commercial products SYMJEPI® and ZIMHI®, a merger, sale, or reverse merger of the Company, and/or seeking additional financing.
As part of this process, the Company has engaged the investment bank Raymond James & Associates, Inc. to act as strategic advisor to assist the Company in evaluating certain alternatives. There can be no assurance that this strategic review process will result in the Company pursuing any transaction or that any transaction, if pursued, will be completed. The Company has not established a schedule for completion of this strategic review process, nor has it made any definitive decisions at this time related to strategic alternative transactions. If the Company is unable to complete a transaction, it may be required to seek bankruptcy protection or other alternatives for restructuring and resolving its liabilities. The Company does not expect to disclose or provide an update concerning developments related to this process until the Company enters in definitive agreements or arrangements with respect to a transaction or otherwise determines that other disclosure is necessary or appropriate. The Company is also reviewing and intends to pursue expense reduction alternatives and measures which may include, without limitation, employee headcount reductions and reduction or discontinuation of certain product development programs.
The stocks have a year to date performance of -75.80 percent and weekly performance of -6.45 percent. The stock has been moved at -69.64 percent over the last six months. The stock has performed -59.39 percent around the most recent 30 days and changed -70.81 percent over the most recent 3-months.
If compared to the average trading volume of 854.17K shares, ADMP reached to a volume of 4404491 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 0.03, with the Price to Sales ratio for ADMP stock in the period of the last 12 months amounting to 33.56. The Price to Book ratio for the last quarter was 2.93, with the Price to Cash per share for the same quarter was set at 0.06.
ADMP stock trade performance evaluation
Adamis Pharmaceuticals Corporation [ADMP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.45. With this latest performance, ADMP shares dropped by -59.39% in over the last four-week period, additionally sinking by -69.64% over the last 6 months – not to mention a drop of -86.19% 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 27.89, with the RSI for the last a single of trading hit 28.04, and the three-weeks RSI is set at 29.13 for Adamis Pharmaceuticals Corporation [ADMP]. The present Moving Average for the last 50 days of trading for this stock 0.2994, while it was recorded at 0.1367 for the last single week of trading, and 0.4662 for the last 200 days.
Adamis Pharmaceuticals Corporation [ADMP]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Adamis Pharmaceuticals Corporation [ADMP] shares currently have an operating margin of -1451.97 and a Gross Margin at -211.14. Adamis Pharmaceuticals Corporation’s Net Margin is presently recorded at -1566.56.
Return on Equity for this stock declined to -235.53, with Return on Assets sitting at -99.45.
Adamis Pharmaceuticals Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.60.
Adamis Pharmaceuticals Corporation [ADMP]: Insider Ownership positions
There are presently around $2 million, or 8.70% of ADMP stock, in the hands of institutional investors. The top three institutional holders of ADMP stocks are: VANGUARD GROUP INC with ownership of 6,480,688, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 2,787,054 shares of the stock with an approximate value of $0.41 million in ADMP stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.2 million in ADMP stock with ownership of nearly 5.573% 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 13 institutional holders increased their position in Adamis Pharmaceuticals Corporation [NASDAQ:ADMP] by around 274,956 shares. Additionally, 13 investors decreased positions by around 335,823 shares, while 25 investors held positions by with 12,250,407 shares. The mentioned changes placed institutional holdings at 12,861,186 shares, according to the latest SEC report filing. ADMP stock had 5 new institutional investments in for a total of 151,286 shares, while 6 institutional investors sold positions of 256,764 shares during the same period.