After Maxim Group and H.C. Wainwright gave ADMA Biologics (NASDAQ: ADMA) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Leland Gershell maintained a Buy rating on ADMA Biologics today and set a price target of $14. The company’s shares closed yesterday at $3.89.
Gershell said:
“4Q net loss of $18.0M vs our $16.5M, on revenue of $4.1M vs. our $4.7M. Next up is 4/2/19 PDUFA date for proprietary hyperimmune globulin RI-002. Timelines for Bivigam are more nebulous, as the FDA has still not assigned an action date despite the early January PAS re-submission; we conservatively assume a six month review period nonetheless. Per mgmt, the company and the agency continue to interact constructively on Bivigam. Although similar material has been submitted in connection with RI-002’s review, ADMA does not expect any impact to the timing of a decision. We are optimistic for positive FDA actions on both and view these as triggers for share outperformance.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -3.2% and a 40.9% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Anchiano Therapeutics Ltd, Avenue Therapeutics Inc, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ADMA Biologics with a $11.25 average 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 483.4K.
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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.
