ADMA - ADMA Biologics raised to Strong Buy at Raymond James citing financial momentum

After the fifth consecutive revenue beat posted by the company with its Q3 2021 financials, Raymond James has upgraded ADMA Biologics (ADMA +14.3%) to Strong Buy from Outperform. The analysts led by Elliot Wilbur highlight a sequential improvement in its topline and a quarterly gross profit recorded by the company for the first time since its launch in 2004. They also argue that ADMA (NASDAQ:ADMA) is adding market share and new end-market clients amid robust demand for intravenous immune globulin (IVIG) products, while supplies from leading players have come under pressure. “We see a solid near-term trends supporting sequential top line growth and improving margin performance through at least year-end 2022,” they added. The price target of $5 per share implies a premium of ~257% to the last close. Last month, ADMA (ADMA) disclosed that it was evaluating strategic and financial alternatives for the business. The company shares have lost over 28% in the

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ADMA Biologics raised to Strong Buy at Raymond James citing financial momentum