Adma Biologics price target raised to $20 from $15 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Adma Biologics to $20 from $15 and keeps an Overweight rating on the shares. Adma Biologics delivered an “outstanding” quarterly performance and again raised guidance for 2024 and 2025 total revenue, adjusted EBITDA, and GAAP net income, marking its fourth revenue guidance increase this calendar year, the analyst tells investors in a research note. As a result of shifting more manufacturing capacity toward ASCENIV and yield enhancements, Cantor believes the topline could eventually reach a peak of $2B+.