BlackRock Fund Advisors recently announced the acquisition of new stake in Adma Biologics Inc (NASDAQ:ADMA). The institutional investor has increased its shareholding in the Healthcare company by 1.87% to 15.09 million shares with purchase of 0.28 million shares. This fresh investment now brings its stake to 6.68% valued currently at $55.84 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.31 million to 12.29 million shares. And Stonepine Capital Management LLC has lifted its position by 3.54% or 0.31 million shares – to 9.1 million shares.
With over 7.38 million Adma Biologics Inc (ADMA) shares trading Tuesday and a closing price of $5.07 on the day, the dollar volume was approximately $37.41 million. The shares have shown a positive half year performance of 42.82% and its price on 01/09/24 gained nearly 5.41%. Currently, there are 221.82M common shares owned by the public and among those 216.57M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ADMA have a consensus price objective of $6.38. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $6.00. The average price target is 17.16% above its recent price level and an upside to the estimated low will see the stock gain 15.5% over that period. But an upside of 27.57% will see the stock hit the forecast high price target while median target price for the stock is $6.25.
Insiders at the company have transacted a total of 43 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 3,928,481 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 3,554,921 shares.
The top 3 mutual fund holders in Adma Biologics Inc are Vanguard Total Stock Market ETF, SPDR S&P Biotech ETF, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 6.41 million shares of the company’s stock, all valued at over $23.72 million. SPDR S&P Biotech ETF bought 25620.0 shares to see its total holdings expand to 5.5 million shares valued at over $20.34 million and representing 2.43% of the shares outstanding. iShares Russell 2000 ETF bought 2475.0 shares to bring its total holdings to over 5.03 million shares at a value of $18.62 million. iShares Russell 2000 ETF now owns shares totaling to 2.23% of the shares outstanding.
Shares of Adma Biologics Inc (NASDAQ: ADMA) opened at $4.79, down -$0.02 from a prior closing price of $4.81. However, the script later moved the day high at 5.09, up 5.41%. The company’s stock has a 5-day price change of 11.43% and 51.80% over the past three months. ADMA shares are trading 12.17% year to date (YTD), with the 12-month market performance up to 39.67% higher. It has a 12-month low price of $2.94 and touched a high of $4.84 over the same period. ADMA has an average intraday trading volume of 1.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.55%, 29.01%, and 35.06% respectively.
Institutional ownership of Adma Biologics Inc (NASDAQ: ADMA) shares accounts for 76.91% of the company’s 221.82M shares outstanding. Mutual fund holders own 32.10%, while other institutional holders and individual stakeholders account for 44.84% and 24.54% respectively.
It has a market capitalization of $1.15B and a beta (3y monthly) value of 0.47. The earnings-per-share (ttm) stands at -$0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.43% over the week and 3.95% over the month.
Analysts forecast that Adma Biologics Inc (ADMA) will achieve an EPS of $0.01 for the current quarter, $0.02 for the next quarter and $0.17 for 2024. The lowest estimate earnings-per-share for the quarter is $0.01 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 93.94%, and 1137.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Adma Biologics Inc (ADMA) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ADMA, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on July 19, 2023, with the firm’s price target at $5.
