Why are ADMP Stocks Climbing Today?

Adamis Pharmaceuticals Corp. is a biopharmaceutical business. It develops, manufactures, and sells pharmaceutical, specialty biopharmaceutical, and other therapeutic products. The company sells for allergy, respiratory, opioid overdose, and erectile dysfunction, among other therapeutic areas. 

It provides the SYMJEPI Injection for the treatment of allergic reactions in the event of an emergency. The company was established in June 2006 and get based in San Diego, California.

ADMP’s +8.85 percent shares soared 20.4 percent in premarket trading Monday, reaching an eight-month high after the biopharmaceutical company announced Zimhi, its high-dose naloxone injection for the treatment of opioid overdose, had been approved by the Food and Drug Administration. Trading volume increased to 32.8 million shares, making the stock the most actively traded before the open, compared to the full-day average of around 2.0 million shares.

“We are indeed delighted by this approval and are working with our commercial partner, US WorldMeds, to make this much-needed, lifesaving treatment available to the market,” said Adamis CEO Dennis Carlo. “When compared to any of the current nasal or injectable naloxone medications, Zimhi gives the highest systemic amounts of naloxone.” Through Friday, the stock has up 132.9 percent year to date, outperforming the iShares Biotechnology ETF IBB, -0.85 percent by 3.7 percent and the S& P 500 SPX, +0.34 percent by 19.0 percent.

Adamis Pharmaceuticals technical analysis forecast Stock is in a short-term uptrend, and I will avoid taking a SHORT or SELL trade in this stock. At this time, look for opportunities to BUY or GO LONG in Adamis Pharmaceuticals ADMP. The share is rising and may continue to gain.

ADMP appears to have made a significant move recently. Their stocks are trading above a crucial moving average line, which it has been dealing above for quite some time. That is a positive sign, and the share could continue to rise and move higher!

Although the short-term analysis for Adamis Pharmaceuticals is optimistic, the stock is overbought, and there is a good likelihood that some profit-taking will occur tomorrow. You might sell the stock intraday tomorrow with a stop loss of 1.2 and a target of 1.1 or 1.08.

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