StockNews.com Initiates Coverage on Adamis Pharmaceuticals (NASDAQ:ADMP)

Equities researchers at StockNews.com started coverage on shares of Adamis Pharmaceuticals (NASDAQ:ADMP – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the specialty pharmaceutical company’s stock.

Adamis Pharmaceuticals Stock Performance

ADMP opened at $0.16 on Thursday. The stock’s 50 day simple moving average is $0.21 and its 200 day simple moving average is $0.22. Adamis Pharmaceuticals has a 1 year low of $0.12 and a 1 year high of $0.68.

Hedge Funds Weigh In On Adamis Pharmaceuticals

An institutional investor recently raised its position in Adamis Pharmaceuticals stock. State Street Corp raised its holdings in Adamis Pharmaceuticals Co. (NASDAQ:ADMP – Get Rating) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 475,373 shares of the specialty pharmaceutical company’s stock after buying an additional 55,168 shares during the quarter. State Street Corp owned about 0.32% of Adamis Pharmaceuticals worth $271,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.57% of the company’s stock.

Adamis Pharmaceuticals Company Profile

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Adamis Pharmaceuticals Corp. is a biopharmaceutical company, which engages in the discovery, development, and sale of pharmaceutical, specialty biopharmaceutical, and other drug products. The company provides products in various therapeutic areas, including allergy, respiratory, opioid overdose, and erectile dysfunction markets.