In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on ADMA Biologics (NASDAQ: ADMA), with a price target of $12. The company’s shares opened today at $6.16, close to its 52-week high of $6.86.
McCarthy commented:
“ADMA reported 2Q18 with $4.7M in revenue; $2.5M from plasma centers and $2.2M from Nabi-HB. The company ended the period with a net loss of $14.7M and $55.2M in cash on the balance sheet. Several key catalysts lay ahead for ADMA in 2H18 and into 2019 which should continue to drive valuation higher, in our view. ○ Inspection of the manufacturing facility acquired from Biotest has been closed out (see note from 7/26), essentially all systems are go for and RI-001. ○ RI-002 BLA refiling expected in 3Q. Review is between 2 and 6 months. Recall the CRL was not related to clinical data, it was related to Biotests facility. With that resolved, we expect RI-002 to be approved. ○ Bivigam PDUFA; 10/25. What was once a $50M product for Biotest is poised to return to form with ADMA in the manufacturing driver’s seat (albeit it will take some time to get back to peak revenue).”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.9% and a 43.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
ADMA Biologics has an analyst consensus of Strong Buy, with a price target consensus of $10.70, which is a 73.7% 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.
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Based on ADMA Biologics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.82 million. In comparison, last year the company had a GAAP net loss of $9.04 million.
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
