ADMA Biologics (ADMA) Gets a Buy Rating from Oppenheimer


In a report released today, Leland Gershell from Oppenheimer reiterated a Buy rating on ADMA Biologics (NASDAQ: ADMA), with a price target of $13. The company’s shares closed yesterday at $5.56.

Gershell wrote:

“As announced yesterday, the FDA action date for Bivigam has moved to ~2-month delay from the prior October 25 PDUFA. This was triggered by the FDA’s qualification of additional info submitted to the agency following the initial PAS submission as a major amendment. This news does not change our view that Bivigam is likely to be approved, but we have adjusted our model to reflect Bivigam sales revenues starting in 1Q19 vs. 4Q18. We expect no impact on RI-002 timelines, for which we continue to forecast approval by mid-2019. We reiterate our Outperform rating and our $13 PT is unchanged.”

According to TipRanks.com, Gershell is a 1-star analyst with an average return of -2.8% and a 35.7% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.

ADMA Biologics has an analyst consensus of Strong Buy, with a price target consensus of $11.67, implying an 110.1% upside from current levels. In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $12 price target.

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Based on ADMA Biologics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.75 million. In comparison, last year the company had a GAAP net loss of $15.2 million.

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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.

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