Russell Investments Group Ltd. Lowers Stake in Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS)
Russell Investments Group Ltd. reduced its stake in shares of Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) by 18.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,049 shares of the specialty pharmaceutical company’s stock after selling 4,868 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Adamas Pharmaceuticals worth $386,000 at the end of the most recent quarter.
Separately, State Street Corp raised its position in Adamas Pharmaceuticals by 6.3% in the fourth quarter. State Street Corp now owns 257,685 shares of the specialty pharmaceutical company’s stock worth $4,356,000 after buying an additional 15,216 shares in the last quarter. 71.37% of the stock is currently owned by hedge funds and other institutional investors.
Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) traded up 0.70% during midday trading on Friday, hitting $17.19. The stock had a trading volume of 109,903 shares. The company’s market capitalization is $384.35 million. Adamas Pharmaceuticals, Inc. has a 52 week low of $12.10 and a 52 week high of $19.50. The company’s 50-day moving average price is $17.39 and its 200 day moving average price is $16.84.
Adamas Pharmaceuticals (NASDAQ:ADMS) last announced its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.72) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.72). Adamas Pharmaceuticals had a negative net margin of 10,499.65% and a negative return on equity of 45.19%. During the same quarter in the prior year, the business earned ($0.65) earnings per share. On average, analysts expect that Adamas Pharmaceuticals, Inc. will post ($3.47) EPS for the current year.
A number of research firms have commented on ADMS. BidaskClub lowered Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Adamas Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Mizuho restated a “buy” rating and set a $26.00 target price on shares of Adamas Pharmaceuticals in a research report on Tuesday, June 6th. Cowen and Company restated an “outperform” rating and set a $45.00 target price on shares of Adamas Pharmaceuticals in a research report on Sunday, May 28th. Finally, Noble Financial restated a “buy” rating on shares of Adamas Pharmaceuticals in a research report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $29.00.
In related news, major shareholder Great Point Partners Llc sold 350,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $17.05, for a total transaction of $5,967,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 731,041 shares of company stock valued at $12,476,149 in the last ninety days. Insiders own 29.00% of the company’s stock.
About Adamas Pharmaceuticals
Adamas Pharmaceuticals, Inc is a pharmaceutical company. The Company is engaged in developing medicines to manage the daily lives of those affected by chronic neurologic disorders. It offers a platform based on an understanding of time dependent biologic effects of disease activity and drug response to achieve relief without tolerability issues.
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