In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on ADMA Biologics (NASDAQ: ADMA), with a price target of $13. The company’s shares closed on Friday at $6.17, close to its 52-week high of $6.86.
“ADMA’s 2Q18 net loss per share of $0.35 matched our estimate. Following progress with the Boca Raton manufacturing facility (2H17 remediation, April 2018 inspection and Form 483 responses) that ADMA acquired from former CMO Biotest, we believe its current status will support re-registration of Bivigam under a new fractionation process (10/25/18 PDUFA, ~$60M historical sales) and approval of RI-002 (to re- submit BLA in 2H18, we forecast $200M+ in peak sales). We view ADMA as an innovative, up-and-coming player in the growing ~$5.5B worldwide immunoglobulin market. Mid-2017 gain of manufacturing ownership/control has put company on a road to cure CMC deficiencies material to its business plan, and we expect shares to continue their upward move as ADMA executes on its 2018-19 goals.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -8.6% and a 22.2% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ADMA Biologics with a $10.70 average price target, a 73.4% upside from current levels. In a report issued on July 30, Chardan Capital also initiated coverage with a Buy rating on the stock with a $10 price target.
The company has a one-year high of $6.86 and a one-year low of $2.01. Currently, ADMA Biologics has an average volume of 326.3K.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADMA in relation to earlier this year.
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ADMA Biologics, Inc. is a biopharmaceutical company. It develops, manufactures, and intends to commercialize in human plasma and plasma-derived therapeutics. It operates through the following business segments: ADMA BioManufacturing, Plasma Collection Center, and Corporate.