Kamada (NASDAQ:KMDA) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Kamada (NASDAQ:KMDA) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. The brokerage currently has $7.75 price objective on the biotechnology company’s stock.

According to Zacks, “Kamada Ltd. is a biopharmaceutical company. It develops, produces and markets therapeutics based on chromatographic purification technology. The company offers bio-therapeutics for specialty proteins, specific immunoglobulins and other prescription medicines. Kamada Ltd. is headquartered in Ness Ziona, Israel. “

Separately, HC Wainwright reaffirmed a buy rating on shares of Kamada in a research note on Tuesday, November 23rd.

Shares of KMDA stock opened at $6.76 on Wednesday. The company has a market cap of $297.39 million, a price-to-earnings ratio of 67.61 and a beta of 1.06. The stock has a 50 day simple moving average of $6.35 and a 200-day simple moving average of $5.81. Kamada has a 12-month low of $5.11 and a 12-month high of $8.16.

Kamada (NASDAQ:KMDA) last issued its earnings results on Sunday, November 21st. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $23.03 million for the quarter, compared to analysts’ expectations of $25.20 million. Kamada had a return on equity of 2.44% and a net margin of 4.25%. During the same period last year, the company posted $0.15 earnings per share. Analysts expect that Kamada will post 0.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd increased its stake in Kamada by 2.5% in the 3rd quarter. Altshuler Shaham Ltd now owns 927,474 shares of the biotechnology company’s stock valued at $4,941,000 after purchasing an additional 22,222 shares in the last quarter. Vanguard Group Inc. increased its position in Kamada by 0.3% during the second quarter. Vanguard Group Inc. now owns 755,287 shares of the biotechnology company’s stock worth $4,396,000 after buying an additional 1,923 shares in the last quarter. Morgan Stanley increased its position in Kamada by 10.7% during the second quarter. Morgan Stanley now owns 206,619 shares of the biotechnology company’s stock worth $1,203,000 after buying an additional 19,953 shares in the last quarter. Seizert Capital Partners LLC increased its position in Kamada by 66.4% during the third quarter. Seizert Capital Partners LLC now owns 156,175 shares of the biotechnology company’s stock worth $828,000 after buying an additional 62,345 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Kamada by 24.3% during the third quarter. Goldman Sachs Group Inc. now owns 49,564 shares of the biotechnology company’s stock worth $263,000 after buying an additional 9,701 shares in the last quarter. 20.41% of the stock is owned by hedge funds and other institutional investors.

About Kamada

Kamada Ltd. engages in the development and production of pharmaceutical products. It operates through the following segments: Proprietary Products and Distribution. The Proprietary Products segment covers the development, manufacture, and sale of plasma-derived protein therapeutics products. The Distribution segment covers the supply of plasma-based products for clinical use.

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