Biopharma firm Kamada's Q2 profit beats expectations

Overview

• Kamada H1 2025 rev rises 11% yr/yr, adjusted EBITDA up 35%

• Q2 revenue and net income beat analyst expectations, per LSEG data

• FDA approves Houston plasma center, cleared for commercial sales

Outlook

• Kamada raises adjusted EBITDA guidance to $40 mln-$44 mln for 2025

• Company reiterates 2025 revenue guidance of $178 mln-$182 mln

• Kamada expects Houston plasma center to contribute $8 mln-$10 mln annually

• Company sees positive outlook due to robust first-half results

Result Drivers

• PRODUCT DIVERSITY - Revenue growth driven by increased sales of GLASSIA in ex-U.S. markets, VARIZIG U.S. sales, and GLASSIA royalty income

• PLASMA COLLECTION - FDA approval of Houston plasma center expected to contribute $8 mln to $10 mln annually at full capacity

• COST MANAGEMENT - Decrease in operating expenses attributed to disciplined management, supporting profitability

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Kamada Ltd is $14.00, about 46.6% above its August 12 closing price of $7.48

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release: ID:nGNX6kVrJw