ADMA - ADMA Biologics price target lowered at H.C. Wainwright citing revenue outlook

alexsl/iStock via Getty Images ADMA Biologics (ADMA) has extended its five-day long losing streak for the sixth trading session while H.C. Wainwright cut its price target to $7.00 from $10.00 per share, implying a premium of ~363.6% to the close. Maintaining the buy rating, the analyst Raghuram Selvaraju has slashed the company’s revenue projections for 2021 and 2022, noting the considerations over its inventory management. The consequences can limit the extent of top-line growth of ADMA over the upcoming quarters, according to Selvaraju. Compared to $52.3M in the previous year's quarter, $94.1M of inventory recorded by the company for Q1 2021 could support its “anticipated quarter-over-quarter revenue growth in 2021 and beyond,” ADMA said with its recent earnings results, which came ahead of analyst expectations.

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ADMA Biologics price target lowered at H.C. Wainwright citing revenue outlook