Maxim Group analyst Jason McCarthy maintained a Buy rating on ADMA Biologics (ADMA) today and set a price target of $12. The company’s shares closed yesterday at $5.74.
McCarthy said:
“ADMA reported 3Q18 revenue of $4.2M (combination of plasma centers, Nabi- HB, and license revenue) and a net loss of ($15M). The company ended the period with $42.4M in cash.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Currently, the analyst consensus on ADMA Biologics is a Strong Buy with an average price target of $13, which is a 126.5% upside from current levels. In a report issued on October 30, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $17 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.
