Kamada (KMDA): Kamada (KMDA): Possibly Cash Flow Positi...

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Wednesday, 02/08/2017 8:02:37 AM

Wednesday, February 08, 2017 8:02:37 AM

Kamada (KMDA): Possibly Cash Flow Positive
In 4Q17 - HC Wainwright

H.C. Wainwright analyst, Andrew Fein, reiterated his Buy rating on shares of Kamada Ltd. (NASDAQ: KMDA) and expects the company to be cash flow positive in 4Q17 as the clinical pipeline advances.

Kamada ended the year with the highest to-date annual growth in Glassia sales totaling $56M (v. $43M in 2016, +30% YoY), slightly off-set by a decrease in distributed products revenue of $21M (vs. $26M in 2016, due to decrease in IVIG sales). This ongoing rate of growth for Glassia is supported by the minimum purchase agreement with Shire (strategic partner offering $237M over four years).

The analyst believes the company’s guidance of '17 revenue of $100M is very achievable, allowing the possibility of a cash flow positive fourth quarter. This steady uptrend of Glassia revenue should provide investors a relatively de-risked entry point with eyes towards the numerous pipeline
programs with catalysts on tap for the year.

No change to the price target of $10.

For an analyst ratings summary and ratings history on Kamada Ltd. click here. For more ratings news on Kamada Ltd. click here.

Shares of Kamada Ltd. closed at $6.49 yesterday.