Oppenheimer analyst Leland Gershell reiterated a Buy rating on ADMA Biologics (NASDAQ: ADMA) today and set a price target of $13. The company’s shares opened today at $5.27.
Gershell observed:
“FDA’s acceptance of RI-002’s BLA as announced this morning comes in line with our expectations. We expect approval on/around its April 2, 2019 PDUFA date, for which we model revenues starting in 3Q19. We believe RI-002’s unique profile among IVIG products will enable it to achieve $200M+ in sales over time. We reiterate our Outperform rating, and recommend investors take advantage of recent weakness as ADMA continues its turnaround.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -1.4% and a 42.9% 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 $11.25 average price target, which is an 113.5% upside from current levels. In a report issued on October 11, 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 $2.01. Currently, ADMA Biologics has an average volume of 260.6K.
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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.
