Mizuho Cuts PT on ADMA Biologics Inc. (ADMA) to $24 From $30

ADMA Biologics Inc. (NASDAQ:ADMA) is one of the best low priced biotech stocks to invest in. Mizuho cut the price target on ADMA Biologics Inc. (NASDAQ:ADMA) to $24 from $30 on April 13, maintaining an Outperform rating on the shares. The firm cut estimates and price targets for several stocks under its medical devices and diagnostics coverage ahead of Q1 earnings from the group.

ADMA Biologics Inc. (NASDAQ:ADMA) also received a rating update from Cantor Fitzgerald on March 25. The firm downgraded the stock to Neutral from Overweight, without assigning a price target. It spoke with a number of investors after a short report’s claim that ADMA Biologics Inc. (NASDAQ:ADMA) is boosting Asceniv revenues through channel stuffing, and stated that investors are disappointed over the company’s response and lack of direct communication after the report. The firm further contended that although the company put out a statement, they were “hoping to have more specific feedback addressing the direct claims in the report”. The firm also cited the lack of clarity and concerns associated with the increased days’ sales outstanding and accounts receivable for the downgrade.

ADMA Biologics Inc. (NASDAQ:ADMA) is a biopharmaceutical company that manufactures, markets, and develops specialty plasma-derived biologics. Its operations are divided into the following business segments: ADMA BioManufacturing and Plasma Collection Center.

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