Mizuho Securities analyst Anthony Petrone has maintained their bullish stance on ADMA stock, giving a Buy rating on March 3.
Anthony Petrone has given his Buy rating due to a combination of factors including ADMA Biologics’ recent filing extension, which he views as a standard procedure associated with the transition to a new auditor. The company’s management has maintained its guidance and expectations, suggesting no adverse effects from this extension. Petrone believes that the demand for ASCENIV is still growing, and with stable plasma supply agreements, there is potential for significant revenue growth, potentially reaching over $1 billion in peak annual sales.
Furthermore, Petrone sees the recent stock price decline as an attractive opportunity for investors, especially as the company is expected to file its 2024 10-K within the extended timeframe. The swift hiring of KPMG, a reputable accounting firm, is seen as a positive move, ensuring robust financial controls and reporting standards. Petrone anticipates that once the 10-K is filed, the stock could experience a sharp upward re-rating, driven by improved EBITDA outlook and potential yield enhancements.
In another report released on March 3, Cantor Fitzgerald also maintained a Buy rating on the stock with a $25.00 price target.
ADMA’s price has also changed slightly for the past six months – from $16.870 to $17.010, which is a 0.83% increase.
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