Oppenheimer Thinks ADMA Biologics’ Stock is Going to Recover

In a report released today, Leland Gershell from Oppenheimer reiterated a Buy rating on ADMA Biologics (ADMA), with a price target of $13. The company’s shares opened today at $2.75, close to its 52-week low of $2.13.

Gershell observed:

“Following ADMA’s consistent execution of its turnaround strategy through 2018, last night’s announcement of a CRL to Bivigam’s drug substance PAS came as a surprise. Detail in this morning’s conference call was an important supplement, as it informed on the nature of the items that ADMA will need to address to secure approval, which we view as bordering on the administrative. While there is no change to our favorable outlook on the likelihood of Bivigam (and RI-002) approval, we push out our timeline expectations and now anticipate that both products will be approved in June 2019 (reflecting assumed two-month delay to RI-002). We believe the shares will begin to recover following today’s sharp selloff as ADMA diligently continues on its path toward meeting its business objectives.”

According to TipRanks.com, Gershell is ranked 0 out of 5 stars with an average return of -16.6% and a 15.4% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.

Currently, the analyst consensus on ADMA Biologics is a Strong Buy with an average price target of $12.20, a 343.6% upside from current levels. In a report issued on December 17, WBB Securities also initiated coverage with a Buy rating on the stock with a $9 price target.

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The company has a one-year high of $6.96 and a one-year low of $2.13. Currently, ADMA Biologics has an average volume of 183.3K.

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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.