Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 4 Dec, 25 | KMDA | Speculative Buy | USD 7.2 | USD 7.6 | USD 8.0 | 33 days | Closed |
11.74%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Kamada Ltd. manufactures and sells plasma-derived protein therapeutics. Its commercial products include KAMRAB/KEDRAB for treating prophylaxis of rabies; CYTOGAM for Prophylaxis of Cytomegalovirus disease in kidney, lung, liver, pancreas, heart, and heart/lung transplants; VARIZIG for post exposure prophylaxis of varicella; WINRHO SDF for immune thrombocytopenic purpura and suppression of rhesus isoimmunization; HEPAGAM B for prevention of hepatitis B recurrence liver transplants and post-exposure prophylaxis; GLASSIA for intravenous AATD; KAMRHO (D) IM for prophylaxis of hemolytic disease of newborns; KAMRHO (D) IV for immune thermobocytopunic purpura; and Echis coloratus and Vipera palaestinae Antiserum for the treatment of snake bite. The company also distributes imported drug products in Israel, including BRAMITOB to manage chronic pulmonary infection; FOSTER to treat asthma; TRIMBOW for chronic obstructive pulmonary disease; PROVOCHOLINE for the diagnosis of bronchial airway hyperactivity; AEROBIKA, an OPEP device; RUPAFIN and RUPAFIN ORAL SOLUTION for allergic rhinitis and Urticaria; SINTREDIUS for rheumatoid arthritis, systemic lupus erythematosus, and mild-moderate juvenile dermatomyositis; IVIG for immunodeficiency-related conditions; VARITECT for chicken pox and zoster herpes; ZUTECTRA and HEPATECT CP for hepatitis B; MEGALOTECT CP for CMV virus; RUCONEST for angioedema attack; HEPARIN SODIUM INJECTION for thrombo-embolic disorders and prophylaxis of deep vein thrombosis and thromboembolic events; ALBUMIN and ALBUMIN for blood plasma; Factor VIII for hemophilia type A; and Factor IX for hemophilia type B. In addition, it distributes COAGADEX for hereditary factor X deficiency; IXIARO for Japanese encephalitis; VIVOTIF for Salmonella Typhi; PROCYSBI for nephropathic cystinosis; LAMZEDE for alpha-mannosidosis; ELIGARD for prostate cancer; and BEVACIZUMAB KAMADA for various cancers. The company was incorporated in 1990 and is headquartered in Rehovot, Israel.
Strong Revenue Growth: Total revenues increased to USD 47.0 million in Q3 FY25 from USD 41.7 million in Q3 FY24, reflecting a 13% year-over-year increase
Significant Improvement in Profitability: Adjusted EBITDA rose to USD 11.7 million in Q3 FY25 from USD 8.8 million in Q3 FY24, representing a 34% increase
Rise in Inventory Levels: Inventories increased to USD 85.4 million as of Q3 FY25 compared to USD 71.6 million as of Q3 FY24, indicating a ~19% increase and tying up additional working capital
Sharp Decline in Operating Cash Flow: Cash provided by operating activities declined to USD 10.4 million in Q3 FY25 from USD 22.2 million in Q3 FY24, driven by higher working capital requirements supporting growth
Kamada faces material risks from regulatory outcomes, clinical-trial uncertainty, and macro-geopolitical instability in Israel and the Middle East, all of which could adversely affect its operations and growth trajectory
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 7.2 | 6.5 | 7.6 | 8.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Strong Operational Momentum and Strategic Focus: Kamada reported robust performance for the third quarter and first nine months of 2025, supported by continued execution of its growth strategy and diversification across its specialty plasma-derived product portfolio. Management emphasized sustained profitability expansion, disciplined cost management, and positive commercial trends across key markets, which together underpin confidence in achieving full-year revenue guidance of USD 178–182 million and adjusted EBITDA of USD 40–44 million. The Company continues to prioritize long-term double-digit profitable growth, supported by investments in business development initiatives and clinical advancement programs.
Financial Performance Highlights: Third-quarter revenue increased 13% year over year to USD 47.0 million, while adjusted EBITDA grew 34% to USD 11.7 million, driven by improved sales mix and increased demand for products such as GLASSIA®, VARIZIG®, and offerings in the Distribution segment. Gross margin expanded to 42%, reflecting higher commercial scale and favorable portfolio contributions, while operating expenses remained consistent with prior-year levels. Net income rose 37% to USD 5.3 million, and operating cash flow totaled USD 10.4 million. For the first nine months of 2025, revenue reached USD 135.8 million, up 11% year over year, with adjusted EBITDA rising 35% to USD 34.2 million and net income increasing 56% to USD 16.6 million. Cash generation remained positive at USD 17.9 million despite higher working-capital requirements.
Advancement of Clinical and Post-Marketing Programs: Kamada continued progressing key clinical and post-marketing initiatives, including the launch of the SHIELD study for CYTOGAM®, designed to evaluate its efficacy in mitigating late-onset CMV infections in high-risk kidney transplant recipients. This research forms part of a broader post-marketing program aimed at generating real-world evidence to further support CYTOGAM’s therapeutic value. The Company also advanced its pivotal Phase 3 InnovAATe clinical trial for inhaled AAT therapy, with an interim futility analysis planned for completion by year-end.
Expansion of Plasma Collection Capabilities: The Company continued strengthening its plasma collection infrastructure, highlighted by recent FDA approval of the Houston plasma collection center under its existing Biologics License Application. This facility, capable of handling 50 donor beds and producing approximately 50,000 liters annually, is positioned to become one of the largest specialty plasma centers in the United States. Kamada is also preparing to seek EMA approval for the site, while ramping up collections at its three operational centers and engaging potential customers for long-term supply agreements.
Balance Sheet Position and Outlook: As of September 30, 2025, Kamada held USD 72.0 million in cash and cash equivalents, reflecting strong operating inflows offset by investment spending and the payment of a USD 11.5 million special dividend. The Company remains well-capitalized to support ongoing portfolio expansion, clinical development, and business development opportunities. Kamada reiterated its fiscal 2025 financial guidance, projecting continued double-digit top- and bottom-line growth, supported by scale expansion, diversified revenue streams, and a steady pipeline of clinical and commercial initiatives.
Kamada Ltd. (NASDAQ: KMDA), an Israel-based biopharmaceutical company specializing in plasma-derived protein therapeutics, reported strong Q3 and nine-month 2025 results supported by a diversified commercial portfolio, expanding profitability, and disciplined operational execution. The Company delivered double-digit revenue and EBITDA growth, strengthened cash generation, and maintained a solid cash position of USD 72 million while advancing key clinical programs, including the SHIELD study for CYTOGAM® and its pivotal Phase 3 InnovAATe trial for inhaled AAT therapy. Kamada also expanded its plasma collection infrastructure with FDA approval of its Houston facility and continued pursuing additional regulatory clearances and long-term supply agreements. Management reaffirmed its full-year guidance, reflecting confidence in sustained top- and bottom-line expansion. Technically, KMDA has been trading in a broad consolidation range with recent stabilization above key moving averages, a neutral-to-positive RSI near 57, and modest but improving volume activity indicating early signs of strengthening momentum.
As per the above-mentioned price action, important support near USD 6.70-USD 7.00, momentum in the stock over the last month, and technical indicators analysis, a ‘Speculative Buy’ rating has been given for Kamada Ltd (NASDAQ: KMDA) at the current price of USD 7.20, as of December 04, 2025 at 11:05 am PST.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Healthcare Industry: Drug Manufacturers - Specialty & Generic
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| KMDA Kamada |
-0.03 0.36% | 8.21 | 22.78 | 19.49 | 2.08 | 1.22 | 1.76 | 11.20 |
| ZTS Zoetis Inc |
-2.49 1.99% | 122.45 | 40.18 | 30.96 | 10.67 | 17.60 | 11.27 | 26.18 |
| MKKGY Merck KGaA ADR |
-0.91 3.05% | 28.96 | 21.25 | 14.93 | 3.10 | 2.14 | 3.60 | 12.98 |
| MKGAF MERCK Kommanditgesellschaft auf Aktien |
- -% | 150.82 | 21.73 | 14.95 | 3.16 | 2.15 | 3.56 | 12.82 |
| TAK Takeda Pharmaceutical Co Ltd ADR |
-0.065 0.37% | 17.43 | 32.67 | 11.53 | 0.01 | 0.87 | 0.02 | 0.07 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on December 4, 2025. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
This report has been issued by StockNextt which has an Ontario Business Identification Number 1000958347 and British Columbia registration Number FM1051529 is a trade name under Kalkine Canada Advisory Services Inc. having Business Number 761925130BC0001. Kalkine Canada Advisory Services Inc. and StockNextt are collectively referred to as “StockNextt”, “we”, “us”, and “our”. The website https://stocknextt.com and associated pages are published by StockNextt. The information in this report and on the StockNextt website has been prepared from a wide variety of sources, which StockNextt, to the best of its knowledge and belief, considers accurate. StcokNextt has made every effort to ensure the reliability of information contained in its reports, newsletters, and websites. All information represents our views at the date of publication and may change without notice. The information in this report does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products. Our reports contain general recommendations for investing in securities and other financial products. StockNextt does not offer financial advice based upon your personal financial situation or goals, and we shall not be held liable for any investment or trading losses you may incur by using the opinions expressed in our reports, publications, market updates, news alerts and corporate profiles. StockNextt does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. StockNextt’s general advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested. Please also read our Terms and conditions for further information. Employees and/or associates of StockNextt and its related entities may hold an interest in the securities or other financial products covered in this report or on the StockNextt website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.
Copyright © 2026 Krish Capital Pty Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.
