After WBB Securities and Maxim Group gave ADMA Biologics (NASDAQ: ADMA) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Leland Gershell reiterated a Buy rating on ADMA Biologics today and set a price target of $13. The company’s shares closed yesterday at $3.14.
Gershell commented:
“Following ADMA’s announcement that it had submitted responses to Bivigam’s CRL issued on 12/19, we met with management yesterday to further discuss. We believe the late December timing of the PDUFA was a critical factor behind the FDA’s action, i.e. to close the review cycle by issuing a CRL despite requests that appear readily addressable, and likely could have been resolved had the year-end holidays not have been fast approaching. The expeditious turnaround by ADMA not only underscores this view, but also speaks to leadership’s intense focus on execution. We expect Bivigam’s PAS to receive approval by RI-002’s BLA to be approved in 2Q19. We believe ADMA shares offer a compelling opportunity at current levels and recommend purchase.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -8.4% and a 41.4% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ADMA Biologics with a $12.20 average price target, which is a 288.5% 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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The company has a one-year high of $6.96 and a one-year low of $2.08. Currently, ADMA Biologics has an average volume of 236.5K.
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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.
