Adamas Pharmaceuticals, Inc. (ADMS) Issues Earnings Results, Misses Estimates By $0.12 EPS
Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) issued its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by $0.12, Briefing.com reports. Adamas Pharmaceuticals had a negative return on equity of 52.91% and a negative net margin of 10,499.65%. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.03 million. During the same period in the prior year, the company earned ($0.78) EPS. The firm’s revenue was down 90.9% on a year-over-year basis.
Adamas Pharmaceuticals (NASDAQ:ADMS) traded up 1.93% during trading on Friday, reaching $14.29. 595,064 shares of the company’s stock traded hands. The stock’s market cap is $321.73 million. The company’s 50 day moving average is $16.83 and its 200-day moving average is $16.80. Adamas Pharmaceuticals has a 52-week low of $12.10 and a 52-week high of $19.50.
In related news, major shareholder Great Point Partners Llc sold 350,000 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $17.05, for a total transaction of $5,967,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 731,041 shares of company stock valued at $12,476,149 over the last 90 days. 29.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ADMS. American International Group Inc. raised its stake in Adamas Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 10,284 shares of the specialty pharmaceutical company’s stock valued at $180,000 after buying an additional 682 shares during the period. Alps Advisors Inc. increased its position in shares of Adamas Pharmaceuticals by 6.7% in the second quarter. Alps Advisors Inc. now owns 20,182 shares of the specialty pharmaceutical company’s stock worth $353,000 after buying an additional 1,272 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Adamas Pharmaceuticals by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 65,830 shares of the specialty pharmaceutical company’s stock worth $1,152,000 after buying an additional 1,563 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Adamas Pharmaceuticals by 28.4% in the first quarter. Wells Fargo & Company MN now owns 15,166 shares of the specialty pharmaceutical company’s stock worth $266,000 after buying an additional 3,358 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Adamas Pharmaceuticals by 4.9% in the first quarter. Geode Capital Management LLC now owns 125,793 shares of the specialty pharmaceutical company’s stock worth $2,201,000 after buying an additional 5,920 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.
ADMS has been the subject of several recent research reports. Zacks Investment Research cut shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Noble Financial restated a “buy” rating on shares of Adamas Pharmaceuticals in a research note on Friday, May 12th. Cowen and Company restated an “outperform” rating and set a $45.00 target price on shares of Adamas Pharmaceuticals in a research note on Sunday, May 28th. Mizuho restated a “buy” rating and set a $26.00 target price on shares of Adamas Pharmaceuticals in a research note on Tuesday, June 6th. Finally, BidaskClub lowered shares of Adamas Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $29.00.
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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