Adma Biologics (NASDAQ: ADMA) finished the trading week on a high note, with its shares racing more than 4% higher in price on Friday. Investors were happy about the specialty healthcare company’s latest news about its growing network of plasma-collection facilities throughout the country. Adma stock’s rise easily topped the slight (0.1%) increase of the S&P 500 index on the day.
Adma said that the U.S. Food and Drug Administration (FDA) approved the company’s tenth Adma BioCenter facility. This one is located in the municipality of Laurel, Maryland.
While the complex was already up and running, having initiated human-source plasma collection in the first half of this year, it is now permitted to ship the substance from there to other locations outside of Maryland for further manufacturing.
Laurel’s features include automated registration for plasma donors, advanced collection equipment the healthcare company says is designed to shorten the process of donating, and individual TVs at each donation station.
The regulator’s latest nod “accomplishes the company’s goal of plasma supply self-sufficiency, supports ongoing revenue growth objectives, and further enhances Adma’s profitability outlook,” Adma quoted CEO Adam Grossman as saying.
While that’s an encouraging statement, Adma did not go so far as to provide revised estimates for that “profitability outlook.” Nevertheless, any day a healthcare company or biotech receives an FDA approval for a product, facility, or process is a good one, so investors were fully justified in trading the company’s stock up on Friday.
10 stocks we like better than Adma Biologics
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now… and Adma Biologics wasn’t one of them! That’s right — they think these 10 stocks are even better buys.
*Stock Advisor returns as of November 15, 2023
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
