Market Overview

Adamis Has 'Favorable' Pipeline Setup, Says Bullish Raymond James

Adamis Has 'Favorable' Pipeline Setup, Says Bullish Raymond James

Adamis Pharmaceuticals Corp (NASDAQ: ADMP) announced its NDA filing Friday for a fast-dissolving sublingual tadalafil tablet for erectile dysfunction.

The Analyst

Raymond James analyst Elliot Wilbur maintained an Outperform on Adamis.

The Thesis

The submission of the NDA is positive, as an approval would place Adamis in the $4-billion-plus phosphodiesterase inhibitor market, Wilbur said in a Monday note.

Even a small conversion rate could translate to a $150-million top-line opportunity, the analyst said. 

Raymond James expects the FDA decision to come through in the fourth quarter, with a potential commercial launch in 2020.

The stock price has factored in a Symjepi launch in Q1, but is not adequately reflecting other pipeline assets, Wilbur said. 

The approval of tadalafil would pitch Adamis against Eli Lilly And Co (NYSE: LLY)'s Cialis and Pfizer Inc. (NYSE: PFE)'s recently genericized Viagra, as well as vardenafil, a combo drug consisting of Levitra and Staxyn from GlaxoSmithKline plc (NYSE: GSK).

"We reiterate our Outperform rating as the company continues to make forward progress and provides better visibility on timelines," Wilbur said. "We believe the risk-reward scenario given the pipeline setup is favorable with significant upside." 

The Price Action

Adamis shares were up 3.11 percent at $2.32 at the time of publication Wednesday. 

Related Links:

Attention Biotech Investors: Mark Your Calendar For These January PDUFA Dates

6 Valuable Pipeline Drugs With Upcoming Catalysts

Latest Ratings for ADMP

Jul 2019UpgradesSellNeutral
Jul 2019DowngradesNeutralSell
Nov 2018DowngradesBuyNeutral

View More Analyst Ratings for ADMP
View the Latest Analyst Ratings

Posted-In: Elliot Wilbur Raymond JamesAnalyst Color Biotech Reiteration Analyst Ratings General Best of Benzinga


Related Articles (GSK + ADMP)

View Comments and Join the Discussion!

Latest Ratings

ELMDDougherty & Co.Initiates Coverage On12.0
MRNSCantor FitzgeraldAssumes7.0
MNRLCapital One FinancialInitiates Coverage On23.0
SONVertical GroupUpgrades
UNPMorgan StanleyMaintains136.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Rapid-Fire Pitch: Project44 And The Art Of The Possible

Mid-Morning Market Update: Markets Open Lower; Omega Healthcare Investors to Buy MedEquities Realty Trust