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 $5.61.
McCarthy wrote:
“ADMA provided an update on the Bivigam BLA, announcing that the PDUFA date of 10/25 has been moved to 12/18. The change is based on the FDA communicating that it needs some additional time to review the PAS (Prior Approval Statement) changes. In our view, this is a technicality based on the timelines around Bivigam: ○ Facility/manufacturing issues corrected. ○ Bivigam BLA filed, accepted and PDUFA assigned for 10/25. ○ PAS/VAI status changes (for the better), responses by ADMA to FDA, FDA needs to review.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.2% and a 49.6% 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 $11.67, implying a 108.0% upside from current levels. In a report issued on October 3, Oppenheimer also reiterated a Buy rating on the stock with a $13 price target.
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The company has a one-year high of $6.96 and a one-year low of $2.01. Currently, ADMA Biologics has an average volume of 259.7K.
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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.
