ADMA Biologics Inc. is trading 6.6% up at $8.66 after Raymond James initiated coverage on the stock with an 'Outperform' rating and a $21 price target.
- The firm's positive outlook is based on the company's transformation into a profitable, high-growth entity, driven by its plasma-derived therapies and U.S.-based operations that insulate it from certain policy risks.
- Raymond James highlighted ADMA's 49% three-year revenue CAGR and expects growth to continue, supported by innovations and label expansions for its key product, ASCENIV.
- The bullish rating appears to be outweighing news on the same day that a law firm announced an investigation into ADMA for potential securities law violations related to past allegations of channel stuffing.