The Manufacturers Life Insurance Company Buys Shares of 124,383 ADMA Biologics Inc $ADMA

Key Points

• The Manufacturers Life Insurance Company initiated a position in ADMA Biologics by purchasing 124,383 shares worth approximately $1.04 million. Institutional investors collectively own 75.68% of the company.
• ADMA reported quarterly earnings of $0.16 per share, matching analyst expectations, while revenue reached $124.39 million, up 2% year over year but slightly below estimates.
• ADMA shares opened at $9.62, well below the analyst consensus price target of $18.67. Analysts maintain a “Moderate Buy” consensus, with three Buy and three Hold ratings.

The Manufacturers Life Insurance Company purchased a new position in shares of ADMA Biologics Inc (NASDAQ:ADMA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 124,383 shares of the biotechnology company's stock, valued at approximately $1,041,000. The Manufacturers Life Insurance Company owned about 0.05% of ADMA Biologics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC boosted its stake in shares of ADMA Biologics by 118.3% in the 2nd quarter. Algert Global LLC now owns 777,189 shares of the biotechnology company's stock valued at $6,505,000 after purchasing an additional 421,247 shares during the last quarter. Ranger Investment Management L.P. bought a new position in ADMA Biologics during the second quarter worth $17,706,000. OMERS ADMINISTRATION Corp bought a new position in ADMA Biologics during the second quarter worth $167,000. Quantbot Technologies LP bought a new position in ADMA Biologics during the second quarter worth $51,000. Finally, Allworth Financial LP acquired a new position in ADMA Biologics in the second quarter valued at $68,000. Institutional investors and hedge funds own 75.68% of the company's stock.

ADMA Biologics Stock Up 0.4%

Shares of NASDAQ ADMA opened at $9.62 on Friday. The firm has a market cap of $2.15 billion, a PE ratio of 13.74 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's fifty day simple moving average is $9.15 and its 200 day simple moving average is $10.31. The company has a quick ratio of 3.81, a current ratio of 6.97 and a debt-to-equity ratio of 0.49.

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 for the quarter, meeting the consensus estimate of $0.16. ADMA Biologics had a net margin of 32.98% and a return on equity of 40.17%. The firm had revenue of $124.39 million during the quarter, compared to the consensus estimate of $125.34 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that ADMA Biologics Inc will post 0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ADMA shares. Mizuho cut their price target on shares of ADMA Biologics from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. Raymond James Financial assumed coverage on ADMA Biologics in a research note on Wednesday, June 10th. They issued an "outperform" rating and a $21.00 price objective on the stock. Weiss Ratings restated a "hold (c)" rating on shares of ADMA Biologics in a research report on Thursday, June 18th. Finally, Zacks Research raised ADMA Biologics from a "strong sell" rating to a "hold" rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.