Bank of America Corp DE Raises Holdings in ADMA Biologics Inc $ADMA

Key Points

• Bank of America more than doubled its ADMA Biologics stake in the first quarter, adding 2.07 million shares to own 3.998 million shares, or about 1.72% of the company valued at $36.0 million.
• Institutional ownership remains high at 75.68%, with several major funds—including Sachem Head, Westfield Capital and Capital Research—also increasing their positions.
• Analyst sentiment is mixed: ADMA has an average rating of “Hold” and a consensus price target of $18.67, while the company matched quarterly EPS estimates at $0.16 and reported $124.39 million in revenue, up 2% year over year.

Bank of America Corp DE increased its position in ADMA Biologics Inc (NASDAQ:ADMA - Free Report) by 107.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,997,675 shares of the biotechnology company's stock after acquiring an additional 2,071,338 shares during the quarter. Bank of America Corp DE owned about 1.72% of ADMA Biologics worth $36,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in ADMA Biologics by 0.3% in the 4th quarter. State Street Corp now owns 13,597,259 shares of the biotechnology company's stock worth $248,014,000 after buying an additional 35,614 shares during the period. Sachem Head Capital Management LP raised its holdings in ADMA Biologics by 27.0% during the 4th quarter. Sachem Head Capital Management LP now owns 11,375,000 shares of the biotechnology company's stock valued at $207,480,000 after acquiring an additional 2,415,000 shares during the period. Westfield Capital Management Co. LP raised its holdings in ADMA Biologics by 36.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 6,992,907 shares of the biotechnology company's stock valued at $127,551,000 after acquiring an additional 1,886,105 shares during the period. Capital Research Global Investors lifted its position in shares of ADMA Biologics by 104.0% during the fourth quarter. Capital Research Global Investors now owns 6,637,472 shares of the biotechnology company's stock worth $121,067,000 after acquiring an additional 3,383,559 shares in the last quarter. Finally, Nuveen LLC lifted its position in shares of ADMA Biologics by 3.5% during the fourth quarter. Nuveen LLC now owns 5,926,390 shares of the biotechnology company's stock worth $108,097,000 after acquiring an additional 202,245 shares in the last quarter. 75.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen cut ADMA Biologics from a "buy" rating to a "hold" rating in a research report on Monday, May 4th. Canaccord Genuity Group decreased their price target on ADMA Biologics from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Zacks Research downgraded shares of ADMA Biologics from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Mizuho reduced their price objective on shares of ADMA Biologics from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, July 15th. Finally, Raymond James Financial began coverage on shares of ADMA Biologics in a research note on Wednesday, June 10th. They issued an "outperform" rating and a $21.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.67.

ADMA Biologics Stock Up 0.6%

ADMA opened at $9.47 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of 13.53 and a beta of 0.74. The business's 50-day moving average price is $8.81 and its 200-day moving average price is $11.04. 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 Inc has a 12 month low of $7.21 and a 12 month high of $20.46.

ADMA Biologics (NASDAQ:ADMA - Get Free Report) last posted its quarterly 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 return on equity of 40.17% and a net margin of 32.98%.The business had revenue of $124.39 million for the quarter, compared to analyst estimates of $125.34 million. During the same period last year, the company earned $0.14 EPS. ADMA Biologics's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts expect that ADMA Biologics Inc will post 0.78 EPS for the current year.

ADMA Biologics Profile

ADMA Biologics, Inc is a biopharmaceutical company headquartered in Ramsey, New Jersey, that focuses on the development, manufacturing and commercialization of specialty plasma-derived biologics for the treatment of primary immunodeficiency and infectious diseases. Leveraging an integrated model that spans plasma collection, fractionation, formulation and fill-finish operations, ADMA Biologics aims to address unmet needs in immune-compromised and high-risk patient populations.

The company's marketed product portfolio includes BIVIGAM, a human immunoglobulin intravenous (IGIV) therapy approved by the U.S.

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