Adam S. Grossman, President and CEO of ADMA Biologics, Inc. (NASDAQ:ADMA), has sold 48,967 shares of common stock, totaling approximately $1.03 million. The shares were sold at a weighted average price of $21.10, with transactions occurring at prices ranging from $21.04 to $21.13. Following this transaction, Grossman retains direct ownership of 1,989,007 shares. Additionally, he holds indirect ownership through Areth, LLC and Hariden, LLC, with 1,143,426 and 580,957 shares respectively.
In other recent news, ADMA Biologics has reported a significant financial uptick in its third-quarter earnings for 2024. Total (EPA:TTEF) revenues soared to $119.8 million, marking a 78% increase over the previous year, while net income surged by 1,300% to $35.9 million. The company also revised its financial guidance upwards, forecasting revenues of over $415 million for 2024 and $465 million for 2025.
In addition to these financial highlights, ADMA Biologics announced changes to its Board of Directors, including the appointment of Young T. Kwon, PhD as the new Chairman of the Audit Committee. The company is also transitioning to KPMG as its new independent auditor.
Mizuho (NYSE:MFG) Securities reiterated an Outperform rating for ADMA Biologics, highlighting the company's initiatives to improve immunoglobulin yields, and the strong demand for its immune globulin product, ASCENIV. The analysis from Mizuho suggests that there is considerable untapped potential for ASCENIV and ADMA Biologics' overall margin profile.
Lastly, ADMA Biologics is advancing its SG-001 pipeline program and expects to file an efficacy supplement for ASCENIV's pediatric label expansion by early 2026. These recent developments underline ADMA Biologics' commitment to strong corporate governance, regulatory compliance, and strategic growth.
InvestingPro Insights
ADMA Biologics, Inc. (NASDAQ:ADMA) has been experiencing significant growth and financial improvements, as reflected in the recent insider transaction and market performance. According to InvestingPro data, ADMA's revenue growth has been impressive, with a 63.39% increase in the last twelve months as of Q3 2024, and an even more substantial 78.13% growth in the most recent quarter. This robust revenue expansion aligns with the company's strong market performance, as evidenced by its remarkable 436.2% price return over the past year.
InvestingPro Tips highlight that ADMA is trading at a low P/E ratio relative to its near-term earnings growth, suggesting potential undervaluation despite its recent price surge. The company's PEG ratio of 0.2 further supports this view, indicating that the stock may still have room for growth relative to its earnings potential.
It's worth noting that ADMA has shown significant profitability improvements, with an operating income margin of 30.74% in the last twelve months. This financial strength is complemented by the company's ability to cover its short-term obligations with liquid assets, as pointed out by another InvestingPro Tip.
For investors seeking more comprehensive analysis, InvestingPro offers 16 additional tips for ADMA Biologics, providing a deeper understanding of the company's financial health and market position.
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