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ADMA Biologics, Inc.’s ADMA shares skyrocketed 76.2% in the past three months compared with the industry’s growth of 9.6%. The stock also hit a new 52-week high of $19.34 on Sept. 9.
The stupendous rally can be attributed to the company’s impressive performance year to date. Sales in the first half increased 61%. Last month, the company also raised its annual guidance for 2024 and 2025 revenues and net income, based on the continuous growth of its unique and proprietary immunoglobulin, Asceniv.
ADMA Outperforms Industry, Sector & S&P 500
ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases. The innovative portfolio and the company’s efforts to further develop a pipeline of plasma-derived therapeutics in this dynamic biotech sector are commendable.
Investors were also impressed with the company’s strong second-quarter results and raised outlook. The stock has also outperformed the sector and the S&P 500 during the aforementioned period.
Asceniv’s Perfomance Fuels ADMA’s Growth
ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases. The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus).
Asceniv, an IVIG product, is indicated for the treatment of PIDD or inborn errors of immunity in adults and adolescents. It is manufactured using ADMA’s unique, patented plasma donor screening methodology and tailored plasma pooling design, which blends normal source plasma and respiratory syncytial virus (RSV) plasma obtained from donors tested using the company’s proprietary microneutralization assay.
The product’s strong sales growth is driving the top line. Its prescriber and patient base continued to increase last year and is expected to grow further in 2024. Last year, ADMA started manufacturing Asceniv at the 4,400-liter production scale for the first time. This has not only improved the product’s margin profile but also increased plant production capacity, as fewer batches are needed to support the company’s revenue goals.
Potential Label Expansion of Asceniv
The company plans to leverage its previously conducted randomized, double-blind, placebo-controlled phase II clinical trial evaluating RI001 in immune-compromised, RSV-infected patients to explore Asceniv for the treatment of RSV or other potential respiratory viral pathogens, as well as in other patient populations.
In connection with the FDA’s approval of Asceniv in April 2019, the company is required to perform a pediatric study to evaluate the safety and efficacy of Asceniv in children and adolescents. The ongoing post-marketing study for Asceniv may provide a label expansion opportunity to include pediatric-aged PI patients.
The late-stage study in 59 PIDD patients met the primary endpoint of no serious bacterial infections reported during the 12 months of treatment. Secondary efficacy endpoints further demonstrated the benefits of Asceniv in the low incidence of infection, therapeutic antibiotic use, days missed from work, school and daycare, and unscheduled medical visits and hospitalizations.
ADMA expects this clinical data, together with the FDA approval for the treatment of PIDD, to better position it to further evaluate the product in immune-compromised patients infected with or at risk of contracting RSV infection or other respiratory viral pathogens in the future.
ADMA Raises Financial Targets
Along with reporting strong second-quarter results last month, ADMA raised its outlook for 2024 and 2025. ADMA expects to generate total revenues of more than $400 million in 2024 and $445 million in 2025 (previous guidance: more than $355 million in 2024 and $410 million in 2025). Net income is projected to exceed $105 million in 2024 and $155 million in 2025 (up from the prior guidance of $85 million in 2024 and $135 million in 2025).
Margin Improvement
ADMA’s higher-margin product portfolio now accounts for more than 50% of its total revenues. The company is working to increase Asceniv's supply further. If successful, Asceniv will account for more than a significant majority of ADMA's total revenues over time, further advancing its potential margin expansion and earnings growth.
Valuation & Estimates
ADMA is currently trading marginally below its 52-week high of $19.34.
Going by the price/sales ratio, ADMA’s shares currently trade at 9.83x forward sales, higher than its mean of 3.30x and 1.73x for the industry.
ADMA Stock Valuation
The Zacks Consensus Estimate for 2024 earnings per share (EPS) has gone up to 49 cents from 35 cents over the past 60 days after the company raised its annual forecast.
ADMA Estimate Movement
It’s worth noting that the annual EPS estimate for 2025 has also jumped 11 cents to 64 cents.
Conclusion
ADMA Biologics, which competes with Takeda TAK and Grifols GRFS in the market of plasma-derived products in the United States, is poised to perform well in the upcoming quarters as incremental additional penetration of Asceniv should accelerate near-term revenue growth.
The rise in annual guidance for sales and earnings boosts investors’ confidence. Management expects additional opportunities for ADMA to continue to grow substantially in the underserved, immune compromised and co-morbid patient population despite the availability of standard-of-care therapy.
The stock recently hit its 52-week high, with room for further growth. Large biotech companies are generally considered safe havens for investors interested in this sector. Hence, any dip can be used as a buying opportunity.
ADMA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
RAMSEY, N.J. and BOCA RATON, Fla., Sept. 17, 2024 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing, and developing specialty biologics, today announced it will join the S&P SmallCap 600 index, effective prior to the open of trading on Monday, September 23, 2024. The S&P SmallCap 600 seeks to measure the small-cap segment of the U.S. equity market.
"ADMA’s inclusion in the S&P SmallCap 600 index is a significant milestone for our company," Adam Grossman, President and Chief Executive Officer of ADMA. "We expect this inclusion will increase our visibility within the investment community and the liquidity of our shares as we continue to execute on our top-tier growth strategy."
The S&P SmallCap 600 Index is a stock market index established by Standard & Poor's that is designed to measure the performance of the small-cap segment of the market and is composed of 600 constituent companies in the U.S. equities market. The index is designed to track companies that meet specific inclusion criteria to ensure that they are liquid and financially viable. For more information on the S&P SmallCap 600 and S&P Dow Jones Indices, please visit www.spdji.com.
About ADMA Biologics, Inc. (ADMA)
ADMA Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. ADMA currently manufactures and markets three United States Food and Drug Administration (FDA)-approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: BIVIGAM® (immune globulin intravenous, human) for the treatment of primary humoral immunodeficiency (PI); ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA BioCenters subsidiary, ADMA also operates as an FDA-approved source plasma collector in the United States, which provides its blood plasma for the manufacture of its products. ADMA’s mission is to manufacture, market and develop specialty biologics and human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA holds numerous U.S. and foreign patents related to and encompassing various aspects of its products and product candidates. For more information, please visit www.admabiologics.com.
Cautionary Note Regarding Forward-Looking StatementsThis press release contains “forward-looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. (“ADMA,” “our” or the “Company”). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as “confident,” “estimate,” “project,” “intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,” “expect,” “believe,” “will,” “is likely,” “will likely,” “should,” “could,” “would,” “may,” or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements include, but are not limited to, statements about the Company’s presence in the investment community and the liquidity of shares of our common stock. Actual events or results may differ materially from those described in this press release due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.
INVESTOR RELATIONS CONTACT:Argot Partners | 212-600-1902 | ADMA@argotpartners.com
Launched on 04/19/2011, the First Trust Small Cap Growth AlphaDEX ETF (FYC) is a smart beta exchange traded fund offering broad exposure to the Style Box - Small Cap Growth category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor & Index
The fund is sponsored by First Trust Advisors. It has amassed assets over $328.59 million, making it one of the average sized ETFs in the Style Box - Small Cap Growth. Before fees and expenses, this particular fund seeks to match the performance of the Nasdaq AlphaDEX Small Cap Growth Index.
The NASDAQ AlphaDEX Small Cap Growth Index is an enhanced which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 700 Small Cap Growth Index.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.70% for FYC, making it one of the most expensive products in the space.
It's 12-month trailing dividend yield comes in at 0.41%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For FYC, it has heaviest allocation in the Healthcare sector --about 22.90% of the portfolio --while Industrials and Information Technology round out the top three.
When you look at individual holdings, Adma Biologics, Inc. (ADMA) accounts for about 0.92% of the fund's total assets, followed by Mirum Pharmaceuticals, Inc. (MIRM) and Zeta Global Holdings Corp. (class A) (ZETA).
Its top 10 holdings account for approximately 7.9% of FYC's total assets under management.
Performance and Risk
So far this year, FYC has added roughly 16.21%, and was up about 25.24% in the last one year (as of 09/17/2024). During this past 52-week period, the fund has traded between $51.50 and $73.05.
The fund has a beta of 1.18 and standard deviation of 24.03% for the trailing three-year period, which makes FYC a high risk choice in this particular space. With about 265 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Small Cap Growth AlphaDEX ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell 2000 Growth ETF (IWO) tracks Russell 2000 Growth Index and the Vanguard Small-Cap Growth ETF (VBK) tracks CRSP U.S. Small Cap Growth Index. IShares Russell 2000 Growth ETF has $11.60 billion in assets, Vanguard Small-Cap Growth ETF has $17.61 billion. IWO has an expense ratio of 0.24% and VBK charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Growth.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
European equities traded in the US as American depositary receipts started the week higher late Monday morning, rising 0.31% to 1,446.05 on the S&P Europe Select ADR Index.
From continental Europe, the gainers were led by pharmaceutical company Ascendis Pharma and biotech firm Evaxion Biotech , which advanced 19% and 6.7% respectively. They were followed by biopharmaceutical company Genfit and 3D printer company Materialise , which were up 5.2% and 5% respectively.
The decliners from continental Europe were led by furniture maker Natuzzi and medical device maker EDAP TMS , which fell 4% and 3.7% respectively. They were followed by biopharmaceutical companies Cellectis and Grifols , which declined 2.6% and 1.7% respectively.
From the UK and Ireland, the gainers were led by biopharmaceutical firm NuCana , which soared 150%, followed by TC Biopharm and Trinity Biotech , which were up 5.3% and 1.9%, respectively.
The decliners from the UK and Ireland were led by Bicycle Therapeutics and Biodexa Pharmaceuticals , which lost 7.5% and 4.4% respectively. They were followed by Adaptimmune Therapeutics , which was down 4.2%.
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Assembly Biosciences (ASMB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Assembly Biosciences is a member of the Medical sector. This group includes 1019 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Assembly Biosciences is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASMB's full-year earnings has moved 41.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ASMB has gained about 83.5% so far this year. Meanwhile, the Medical sector has returned an average of 11.6% on a year-to-date basis. This means that Assembly Biosciences is outperforming the sector as a whole this year.
Another stock in the Medical sector, Adma Biologics (ADMA), has outperformed the sector so far this year. The stock's year-to-date return is 300.2%.
In Adma Biologics' case, the consensus EPS estimate for the current year increased 40% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Assembly Biosciences is a member of the Medical - Generic Drugs industry, which includes 11 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 19.2% this year, meaning that ASMB is performing better in terms of year-to-date returns.
In contrast, Adma Biologics falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 497 stocks and is ranked #83. Since the beginning of the year, the industry has moved +2.2%.
Assembly Biosciences and Adma Biologics could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
Zacks Investment Research
Health care stocks advanced Friday afternoon with the NYSE Health Care Index up 0.3% and the Health Care Select Sector SPDR Fund (XLV) adding 0.4%.
The iShares Biotechnology ETF (IBB) climbed 1.3%.
In corporate news, MBX Biosciences M shares debuted on Nasdaq with an opening price of $23 apiece, above the initial public offering price of $16. The stock surged 43% in recent trading.
Immuneering shares climbed 39% after the company said a complete or partial response was seen in the first two patients with pancreatic cancer getting IMM-1-104 plus modified gemcitabine/nab-paclitaxel in a phase 2a trial.
Grifols is seeking to hire a consultancy firm to help manage minority investors in the face of a takeover approach, Bloomberg reported Friday. Grifols shares rose 2.3%.
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