Shares of Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS) were up 2.1% on Friday . The company traded as high as $24.18 and last traded at $23.30. Approximately 359,685 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 857,737 shares. The stock had previously closed at $23.81.

A number of analysts have recently weighed in on ADMS shares. Noble Financial restated a “buy” rating and issued a $33.00 price target on shares of Adamas Pharmaceuticals in a report on Friday, September 29th. BidaskClub upgraded shares of Adamas Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Mizuho reiterated a “buy” rating and issued a $26.00 target price on shares of Adamas Pharmaceuticals in a research note on Tuesday, September 5th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $30.00 target price on shares of Adamas Pharmaceuticals in a research note on Friday, September 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Adamas Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $39.50.

The firm’s market capitalization is $520.30 million. The stock has a 50 day moving average price of $20.02 and a 200-day moving average price of $17.57.

Adamas Pharmaceuticals (NASDAQ:ADMS) last posted its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.12). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.03 million. The company’s quarterly revenue was down 90.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.78) EPS. On average, equities research analysts forecast that Adamas Pharmaceuticals, Inc. will post ($3.77) EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Adamas Pharmaceuticals by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 745,237 shares of the specialty pharmaceutical company’s stock valued at $13,034,000 after purchasing an additional 28,818 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Adamas Pharmaceuticals by 2.6% in the 2nd quarter. Alliancebernstein L.P. now owns 717,617 shares of the specialty pharmaceutical company’s stock valued at $12,551,000 after purchasing an additional 17,972 shares in the last quarter. Emerald Advisers Inc. PA lifted its stake in shares of Adamas Pharmaceuticals by 2.7% in the 2nd quarter. Emerald Advisers Inc. PA now owns 532,727 shares of the specialty pharmaceutical company’s stock valued at $9,317,000 after purchasing an additional 14,042 shares in the last quarter. State Street Corp lifted its stake in shares of Adamas Pharmaceuticals by 9.1% in the 2nd quarter. State Street Corp now owns 285,359 shares of the specialty pharmaceutical company’s stock valued at $4,990,000 after purchasing an additional 23,708 shares in the last quarter. Finally, Granite Point Capital Management L.P. lifted its stake in shares of Adamas Pharmaceuticals by 11.9% in the 2nd quarter. Granite Point Capital Management L.P. now owns 263,515 shares of the specialty pharmaceutical company’s stock valued at $4,609,000 after purchasing an additional 28,000 shares in the last quarter. 69.31% of the stock is currently owned by institutional investors and hedge funds.

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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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