Traders Purchase Large Volume of Call Options on Adamas Pharmaceuticals (ADMS)

Traders Purchase Large Volume of Call Options on Adamas Pharmaceuticals (ADMS)

Adamas Pharmaceuticals Inc (NASDAQ:ADMS) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 1,554 call options on the company. This is an increase of approximately 1,795% compared to the average daily volume of 82 call options.

Shares of ADMS stock opened at $13.06 on Thursday. Adamas Pharmaceuticals has a 52 week low of $10.58 and a 52 week high of $44.00. The firm has a market capitalization of $328.03 million, a P/E ratio of -3.29 and a beta of 1.53. The company has a quick ratio of 8.74, a current ratio of 8.95 and a debt-to-equity ratio of 1.01.

Adamas Pharmaceuticals (NASDAQ:ADMS) last announced its quarterly earnings results on Thursday, November 1st. The specialty pharmaceutical company reported ($1.22) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.12. Adamas Pharmaceuticals had a negative return on equity of 106.74% and a negative net margin of 617.27%. The company had revenue of $10.61 million during the quarter, compared to analyst estimates of $10.10 million. Sell-side analysts anticipate that Adamas Pharmaceuticals will post -5.2 EPS for the current fiscal year.

In other news, CFO Alfred G. Merriweather sold 1,665 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $19.18, for a total transaction of $31,934.70. Following the completion of the sale, the chief financial officer now owns 25,460 shares of the company’s stock, valued at $488,322.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Adamas Pharmaceuticals by 318.2% in the second quarter. Millennium Management LLC now owns 342,180 shares of the specialty pharmaceutical company’s stock worth $8,839,000 after purchasing an additional 260,360 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Adamas Pharmaceuticals by 12.5% in the second quarter. Macquarie Group Ltd. now owns 1,310,310 shares of the specialty pharmaceutical company’s stock worth $33,846,000 after purchasing an additional 145,412 shares in the last quarter. SCP Investment LP raised its holdings in Adamas Pharmaceuticals by 4.9% in the second quarter. SCP Investment LP now owns 210,191 shares of the specialty pharmaceutical company’s stock worth $5,429,000 after purchasing an additional 9,732 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Adamas Pharmaceuticals in the second quarter worth $203,000. Finally, Bank of New York Mellon Corp raised its holdings in Adamas Pharmaceuticals by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 246,352 shares of the specialty pharmaceutical company’s stock worth $6,363,000 after purchasing an additional 27,696 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

ADMS has been the subject of a number of analyst reports. HC Wainwright initiated coverage on Adamas Pharmaceuticals in a research note on Monday, July 16th. They set a “buy” rating and a $45.00 price objective for the company. BidaskClub raised Adamas Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 17th. Mizuho reissued a “buy” rating and set a $75.00 price objective on shares of Adamas Pharmaceuticals in a research note on Friday, August 17th. ValuEngine lowered Adamas Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 28th. Finally, Bank of America lowered Adamas Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $25.00 in a research note on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $35.11.

Adamas Pharmaceuticals Company Profile

Adamas Pharmaceuticals, Inc discovers, develops, and sells therapies for chronic neurologic disorders. The company's approved/commercial product is GOCOVRI, an amantadine therapy for the treatment of levodopa-induced dyskinesia in patients with Parkinson's disease. Its partnered approved/commercial products include Namzaric (memantine hydrochloride extended-release and donepezil hydrochloride) capsules; and Namenda XR (memantine hydrochloride) extended release capsules for the treatment of moderate to severe Alzheimer's disease.

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