Bank of America Corp DE Makes New $13.79 Million Investment in ADMA Biologics Inc $ADMA

Key Points

• Bank of America acquired 1.65 million ADMA Biologics shares worth approximately $13.79 million, giving it a 0.74% stake. Institutional investors collectively own 75.68% of the company.
• ADMA reported quarterly EPS of $0.16, matching analyst estimates, while revenue reached $124.39 million, up 2% year over year but slightly below expectations.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $18.67 versus the stock’s recent price near $9.38.

Bank of America Corp DE acquired a new position in ADMA Biologics Inc (NASDAQ:ADMA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,647,647 shares of the biotechnology company's stock, valued at approximately $13,791,000. Bank of America Corp DE owned approximately 0.74% of ADMA Biologics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Western Wealth Management LLC acquired a new stake in ADMA Biologics during the first quarter worth about $31,000. Quantbot Technologies LP bought a new stake in ADMA Biologics in the second quarter valued at about $51,000. Allworth Financial LP bought a new position in ADMA Biologics during the 2nd quarter worth approximately $68,000. Meeder Asset Management Inc. bought a new stake in ADMA Biologics during the 2nd quarter worth approximately $75,000. Finally, Rockefeller Capital Management L.P. boosted its stake in ADMA Biologics by 60.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,485 shares of the biotechnology company's stock worth $82,000 after purchasing an additional 1,694 shares during the period. Hedge funds and other institutional investors own 75.68% of the company's stock.

ADMA Biologics Stock Performance

Shares of ADMA stock opened at $9.38 on Friday. The company's fifty day moving average price is $9.28 and its 200-day moving average price is $9.61. The stock has a market cap of $2.10 billion, a PE ratio of 13.40 and a beta of 0.78. ADMA Biologics Inc has a 12 month low of $7.21 and a 12 month high of $20.46. The company has a current ratio of 6.97, a quick ratio of 3.81 and a debt-to-equity ratio of 0.49.

ADMA Biologics (NASDAQ:ADMA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. ADMA Biologics had a net margin of 32.98% and a return on equity of 40.17%. The company had revenue of $124.39 million for the quarter, compared to analysts' expectations of $125.34 million. During the same quarter last year, the company posted $0.14 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that ADMA Biologics Inc will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADMA has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of ADMA Biologics in a report on Monday, September 14th. Mizuho decreased their target price on shares of ADMA Biologics from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Wednesday, July 15th. Raymond James Financial started coverage on shares of ADMA Biologics in a report on Wednesday, June 10th. They set an "outperform" rating and a $21.00 price target for the company. Finally, Zacks Research upgraded shares of ADMA Biologics from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.67.

About ADMA Biologics

ADMA Biologics, Inc is a biopharmaceutical company focused on developing, manufacturing and marketing plasma-derived biologic products for patients with compromised or inadequate immune systems. The company's activities include operating plasma collection centers, sourcing human plasma, and producing specialized immunoglobulin therapies.

ADMA's marketed products include ASCENIV, an intravenous immune globulin indicated for the treatment of primary humoral immunodeficiency disease; BIVIGAM, an intravenous immune globulin for primary humoral immunodeficiency; and Nabi-HB, a hepatitis B immune globulin used to provide protection against hepatitis B infection in certain clinical settings.

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