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ADMA Gains 13.8% in Three Months: More Upside Potential for 2026?
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Key Takeaways
ADMA stock gained 13.8% in three months, beating the industry, sector, and the S&P 500 over the period.
ADMA is seeing accelerating Asceniv use from prescriber adoption, payer access and supply confidence.
ADMA raised 2026 revenue and EBITDA targets as yield-enhanced production lift margins.
ADMA Biologics’ (ADMA - Free Report) shares have gained 13.8% in the past three months compared with the industry’s growth of 9%. The stock has outperformed the sector and the S&P 500 in this timeframe.
The rebound has been notable, with the stock climbing sharply from its Nov. 7, 2025, low of $13.76.
ADMA Outperforms Industry, Sector & S&P 500
Image Source: Zacks Investment Research
The rally has been driven by the robust demand for Asceniv and a constructive outlook for 2026. ADMA Biologics develops and commercializes plasma-derived biologics for the treatment of immune deficiencies and the prevention of select infectious diseases.
Against this backdrop, a closer examination of ADMA’s key strengths and potential challenges is warranted to assess the stock’s investment appeal.
Asceniv’s Performance Fuels ADMA’s Growth
ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases.
The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus).
Asceniv, its lead product, is a plasma-derived IVIG that contains naturally occurring polyclonal antibodies. These antibodies are proteins used by the body’s immune system to neutralize microbes, such as bacteria and viruses, and prevent infections and diseases.
Asceniv is indicated for the treatment of PIDD or inborn errors of immunity in adults and adolescents. It is manufactured using ADMA’s unique, patented plasma donor screening methodology and tailored plasma pooling design, which blends normal source plasma with respiratory syncytial virus plasma obtained from donors tested using the company’s proprietary microneutralization assay.
Utilization accelerated at the end of 2025, supported by expanding prescriber adoption, strong payer access, and increasing confidence in long-term product availability.
The company divested three plasma collection centers for $12 million, while retaining ownership of seven internal centers. More importantly, it entered into long-term plasma supply agreements with the buyer and expanded relationships with third-party suppliers, now accessing 280+ plasma collection centers.
This shift toward a more flexible, capital-efficient sourcing model improves long-term supply visibility through the late 2030s, supports increased production capacity of Asceniv, and is expected to deliver accretive cost savings starting in 2026.
ADMA successfully implemented yield-enhanced production at commercial scale. While 2025 saw initial FDA lot releases, 2026 will mark the first full year of monetizing yield-enhanced batches, driving meaningful gross margin expansion.
On the distribution front, ADMA signed a new authorized distribution agreement with McKesson Specialty in the fourth quarter of 2025, for both Asceniv and Bivigam, expanding access to additional sites of care.
Record demand for Asceniv, expected expansion in payer coverage, and growing confidence in long-term plasma supply are providing clear visibility into accelerating revenues in 2026.
ADMA Looks to Expand Portfolio
ADMA is developing other candidates as well. The preclinical program for SG-001 advanced during 2025, with a pre-IND submission to the FDA anticipated in 2026. If successful, SG-001 could potentially move directly into a registrational study and represent a $300-$500 million peak annual revenue opportunity, offering meaningful upside beyond current guidance.
ADMA Ups 2026 Targets
ADMA increased its 2026 revenue outlook to approximately $635 million from the prior guidance of $630 million, while reiterating its adjusted net income forecast of approximately $255 million.
It also raised its adjusted EBITDA guidance for 2026 to approximately $360 million from $355 million, reflecting growing confidence in margin expansion as yield-enhanced production scales.
Management forecasts revenues of approximately $775 million in 2027, net income of approximately $315 million and adjusted EBITDA of roughly $455 million.
ADMA anticipates revenues of more than $1.1 billion in fiscal 2029, translating to at least $700 million in adjusted EBITDA.
ADMA’s Valuation & Estimates
Going by the price/sales ratio, ADMA’s shares currently trade at 7.96x forward sales, higher than its mean of 3.62x and the industry’s 2.07x.
Image Source: Zacks Investment Research
Estimate Movement
However, EPS estimates for 2025 and 2026 have moved south to 57 cents and 85 cents, respectively.
Image Source: Zacks Investment Research
Invest in ADMA Stock
ADMA Biologics, which competes with Takeda (TAK - Free Report) and Grifols (GRFS - Free Report) in the U.S. market for plasma-derived products, should maintain momentum in the upcoming quarters. Incremental additional penetration of Asceniv should accelerate near-term revenue growth.
The targeted market has significant growth potential. With accelerating Asceniv demand, expanding margins from yield-enhanced production, improved capital efficiency and a clear long-term path to $1 billion-plus revenues, ADMA looks well positioned.
Hence, we recommend the stock to prospective investors as we believe there is potential for growth in 2026.
Image: Bigstock
ADMA Gains 13.8% in Three Months: More Upside Potential for 2026?
Key Takeaways
ADMA Biologics’ (ADMA - Free Report) shares have gained 13.8% in the past three months compared with the industry’s growth of 9%. The stock has outperformed the sector and the S&P 500 in this timeframe.
The rebound has been notable, with the stock climbing sharply from its Nov. 7, 2025, low of $13.76.
ADMA Outperforms Industry, Sector & S&P 500
Image Source: Zacks Investment Research
The rally has been driven by the robust demand for Asceniv and a constructive outlook for 2026. ADMA Biologics develops and commercializes plasma-derived biologics for the treatment of immune deficiencies and the prevention of select infectious diseases.
Against this backdrop, a closer examination of ADMA’s key strengths and potential challenges is warranted to assess the stock’s investment appeal.
Asceniv’s Performance Fuels ADMA’s Growth
ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases.
The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus).
Asceniv, its lead product, is a plasma-derived IVIG that contains naturally occurring polyclonal antibodies. These antibodies are proteins used by the body’s immune system to neutralize microbes, such as bacteria and viruses, and prevent infections and diseases.
Asceniv is indicated for the treatment of PIDD or inborn errors of immunity in adults and adolescents. It is manufactured using ADMA’s unique, patented plasma donor screening methodology and tailored plasma pooling design, which blends normal source plasma with respiratory syncytial virus plasma obtained from donors tested using the company’s proprietary microneutralization assay.
Utilization accelerated at the end of 2025, supported by expanding prescriber adoption, strong payer access, and increasing confidence in long-term product availability.
The company divested three plasma collection centers for $12 million, while retaining ownership of seven internal centers. More importantly, it entered into long-term plasma supply agreements with the buyer and expanded relationships with third-party suppliers, now accessing 280+ plasma collection centers.
This shift toward a more flexible, capital-efficient sourcing model improves long-term supply visibility through the late 2030s, supports increased production capacity of Asceniv, and is expected to deliver accretive cost savings starting in 2026.
ADMA successfully implemented yield-enhanced production at commercial scale. While 2025 saw initial FDA lot releases, 2026 will mark the first full year of monetizing yield-enhanced batches, driving meaningful gross margin expansion.
On the distribution front, ADMA signed a new authorized distribution agreement with McKesson Specialty in the fourth quarter of 2025, for both Asceniv and Bivigam, expanding access to additional sites of care.
Record demand for Asceniv, expected expansion in payer coverage, and growing confidence in long-term plasma supply are providing clear visibility into accelerating revenues in 2026.
ADMA Looks to Expand Portfolio
ADMA is developing other candidates as well. The preclinical program for SG-001 advanced during 2025, with a pre-IND submission to the FDA anticipated in 2026. If successful, SG-001 could potentially move directly into a registrational study and represent a $300-$500 million peak annual revenue opportunity, offering meaningful upside beyond current guidance.
ADMA Ups 2026 Targets
ADMA increased its 2026 revenue outlook to approximately $635 million from the prior guidance of $630 million, while reiterating its adjusted net income forecast of approximately $255 million.
It also raised its adjusted EBITDA guidance for 2026 to approximately $360 million from $355 million, reflecting growing confidence in margin expansion as yield-enhanced production scales.
Management forecasts revenues of approximately $775 million in 2027, net income of approximately $315 million and adjusted EBITDA of roughly $455 million.
ADMA anticipates revenues of more than $1.1 billion in fiscal 2029, translating to at least $700 million in adjusted EBITDA.
ADMA’s Valuation & Estimates
Going by the price/sales ratio, ADMA’s shares currently trade at 7.96x forward sales, higher than its mean of 3.62x and the industry’s 2.07x.
Image Source: Zacks Investment Research
Estimate Movement
However, EPS estimates for 2025 and 2026 have moved south to 57 cents and 85 cents, respectively.
Image Source: Zacks Investment Research
Invest in ADMA Stock
ADMA Biologics, which competes with Takeda (TAK - Free Report) and Grifols (GRFS - Free Report) in the U.S. market for plasma-derived products, should maintain momentum in the upcoming quarters. Incremental additional penetration of Asceniv should accelerate near-term revenue growth.
The targeted market has significant growth potential. With accelerating Asceniv demand, expanding margins from yield-enhanced production, improved capital efficiency and a clear long-term path to $1 billion-plus revenues, ADMA looks well positioned.
Hence, we recommend the stock to prospective investors as we believe there is potential for growth in 2026.
ADMA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.