Analyst Jason Kolbert from Maxim Group downgraded ADMA Biologics Inc (NASDAQ:ADMA) to a Hold rating after the company received a CRL from the FDA last week. The CRL specifies an inspection and deficiencies issue at a third-party contract manufacture. ADMA is unsure if the CRL response will be type I, which would take 2 months, or type II, which would take 6 months. The analyst is unsure how long it will take to fix because ADMA is dependent on Biotest, on of the vendors cited in the CRL. Kolbert is hoping the problem can be fixed quickly but the lack of clarity is the reason he downgraded the company.
According to TipRanks, Kolbert has a success rate of 29% with an average loss of (14%) per recommendation.