Shares are trading at $5.65 which is just a bit higher than the 50 day moving average which is $5.25 and which is quite a bit above the 200 day moving average of $4.74. The 50 day moving average was up by +7.72% and the 200 day average moved up $0.91. Adamis Pharmaceuticals Corporat shares had a trading volume of 1,189K on Tuesday. Overall, volume was up 116.26% over the stocks normal daily volume.
Investors are more bullish on shares of the company as implied by the decrease in short interest. The firm realized a fall in short interest of -37.51% as of September 29, 2017 from the last reporting period. Short interest decreased 1,268,030 over that timeframe. The days to cover decreased to 5.0 and the percentage of shorted shares is 0.08% as of September 29.
A few notable investment firms have updated their holdings. Sterling Global Strategies LLC grew its position by buying 28,334 shares an increase of 66.5%. Sterling Global Strategies LLC claims 70,934 shares worth $369,000. The value of the position overall is up by 103.9%. As of quarter end Sio Capital Management, LLC had sold 760,356 shares trimming its position 86.1%. The value of the company’s investment in Adamis Pharmaceuticals Corporat decreased from $3,752,000 to $637,000 a change of $3,115,000 for the reporting period.
As of the end of the quarter Stonebridge Capital Advisors LLC had acquired a total of 5,000 shares growing its holdings by 22.2%. The value of the total investment in Adamis Pharmaceuticals Corporat went from $96,000 to $143,000 increasing 49.0% quarter over quarter. Cutler Group LP downsized its stake by shedding 1,831 shares a decrease of 67.8% in the quarter. Cutler Group LP controls 869 shares valued at $4,000. The total value of its holdings decreased 71.4%.
Equity analyst Raymond James started coverage with an initial rating of “Outperform”.
In the last earnings report the EPS was $-0.87 and is estimated to be $-0.75 for the current year with 31,351,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.15 with next year’s EPS anticipated to be $-0.33.
Adamis Pharmaceuticals Corporation, launched on April 22, 2004, is a pharmaceutical company. The Company is involved in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M). The Business’s product portfolio includes specialty pharmaceutical products, such as Epinephrine pre-filled syringe (PFS), APC-5000 dry powder inhaler (DPI), APC-1000 and APC-2000, and biotechnology products, such as TeloB-VAX (vaccine), APC-100, APC-200 and APC-300..