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ADMA Crashes 42.5% YTD: Right Time to Buy the Stock?
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Key Takeaways
ADMA shares fell 42.5% in three months after a short report, hitting a 52-week low in March.
Asceniv drove growth with 51% sales jump in 2025, backed by strong demand and wider adoption.
ADMA projects revenues above $635M in 2026, aided by margin gains and supply expansion.
ADMA Biologics’ (ADMA - Free Report) shares have plunged 42.5% year to date against the industry’s growth of 1.6%. The stock has also underperformed the sector and the S&P 500 in this time frame.
Much of this decline came in late March after Culper Research issued a negative research report on the company on March 24, 2026. The stock touched a 52-week low of $7.21 on March 26.
ADMA Underperforms Industry, Sector & S&P 500
Image Source: Zacks Investment Research
In response, ADMA disclosed that Culper Research holds a short position in the company’s shares. ADMA reiterated its commitment to accurate and transparent financial reporting, highlighting adherence to U.S. Securities and Exchange Commission requirements and U.S. GAAP standards. The company and its board emphasized confidence in the integrity of its disclosures and operational performance.
Management pushed back against the short report, stating that it was based on speculative claims from unidentified sources and contained multiple inaccuracies. While firmly disputing the allegations, ADMA noted it is reviewing the assertions, a move that may help address investor concerns and stabilize sentiment amid potential near-term volatility.
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.
Asceniv, its lead product, is a plasma-derived IVIG that contains naturally occurring polyclonal antibodies. It is indicated for the treatment of primary immunodeficiency disease (PIDD) or inborn errors of immunity in adults and adolescents.
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.
The product 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.
Third-party suppliers outperformed expectations in 2025, and newly executed agreements now provide access to more than 280 plasma collection centers, significantly strengthening Asceniv’s long-term supply outlook.
Management believes Asceniv is in the early stages of penetrating a large total addressable market and represents a key long-term growth driver for ADMA (supported by a differentiated, patented supply and manufacturing platform).
Revenues of $510.2 million in 2025 were up 20% from 2024, driven by higher Asceniv sales due to continued growth in physician, payer and patient adoption. Asceniv delivered record utilization in 2025, with revenues climbing 51% year over year to $363 million on strong demand and growing prescriber adoption.
ADMA expects 2026 revenues to exceed $635 million, while 2027 revenues are forecasted to exceed $775 million.
Margin Improvement Should Boost ADMA’s Profitability
Yield-enhanced production transitioned into steady commercial execution in 2025, supported by ongoing FDA lot releases. ADMA is positioned to benefit in 2026 from a continued shift in product mix toward higher-margin IVIG therapies, supporting further gross margin expansion. This improvement is expected to be driven by the first full year of yield-enhanced production, reinforcing the company’s operating leverage and supporting its profitability trajectory.
ADMA to Expand Portfolio
ADMA continues to advance SG-001, a hyperimmune globulin targeting S. pneumonia.
It plans to submit a pre-Investigational New Drug (“IND”) meeting package to the FDA in 2026, potentially enabling direct progression into a registrational trial. Management estimates peak annual sales of $300-$500 million, adding meaningful long-term optionality beyond its IVIG products.
ADMA’s Valuation & Estimates
Going by the price/sales ratio, ADMA’s shares currently trade at 3.67x forward sales, lower than its mean of 3.69x but higher than the industry’s 2.08x.
Image Source: Zacks Investment Research
Estimate Movement
The Zacks Consensus Estimate for ADMA’s 2026 earnings per share has moved north to 96 cents in the past 60 days while that for 2027 has remained stable at $1.38.
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.
While the recent pullback in the stock is worrisome, ADMA’s rebuttal to allegations from short seller Culper Research has helped restore investor confidence. ADMA emphasized that demand for its key product, Asceniv, remains strong and growing, supported by distributor and end-user data. The company also countered “channel stuffing” claims, noting that inventory levels are typical for the IVIG market and have declined in recent months, indicating healthy product flow rather than excess stocking.
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.
View the Zacks #1 Rank List
Image: Bigstock
ADMA Crashes 42.5% YTD: Right Time to Buy the Stock?
Key Takeaways
ADMA Biologics’ (ADMA - Free Report) shares have plunged 42.5% year to date against the industry’s growth of 1.6%. The stock has also underperformed the sector and the S&P 500 in this time frame.
Much of this decline came in late March after Culper Research issued a negative research report on the company on March 24, 2026. The stock touched a 52-week low of $7.21 on March 26.
ADMA Underperforms Industry, Sector & S&P 500
Image Source: Zacks Investment Research
In response, ADMA disclosed that Culper Research holds a short position in the company’s shares. ADMA reiterated its commitment to accurate and transparent financial reporting, highlighting adherence to U.S. Securities and Exchange Commission requirements and U.S. GAAP standards. The company and its board emphasized confidence in the integrity of its disclosures and operational performance.
Management pushed back against the short report, stating that it was based on speculative claims from unidentified sources and contained multiple inaccuracies. While firmly disputing the allegations, ADMA noted it is reviewing the assertions, a move that may help address investor concerns and stabilize sentiment amid potential near-term volatility.
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.
Asceniv, its lead product, is a plasma-derived IVIG that contains naturally occurring polyclonal antibodies. It is indicated for the treatment of primary immunodeficiency disease (PIDD) or inborn errors of immunity in adults and adolescents.
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.
The product 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.
Third-party suppliers outperformed expectations in 2025, and newly executed agreements now provide access to more than 280 plasma collection centers, significantly strengthening Asceniv’s long-term supply outlook.
Management believes Asceniv is in the early stages of penetrating a large total addressable market and represents a key long-term growth driver for ADMA (supported by a differentiated, patented supply and manufacturing platform).
Revenues of $510.2 million in 2025 were up 20% from 2024, driven by higher Asceniv sales due to continued growth in physician, payer and patient adoption. Asceniv delivered record utilization in 2025, with revenues climbing 51% year over year to $363 million on strong demand and growing prescriber adoption.
ADMA expects 2026 revenues to exceed $635 million, while 2027 revenues are forecasted to exceed $775 million.
Margin Improvement Should Boost ADMA’s Profitability
Yield-enhanced production transitioned into steady commercial execution in 2025, supported by ongoing FDA lot releases.
ADMA is positioned to benefit in 2026 from a continued shift in product mix toward higher-margin IVIG therapies, supporting further gross margin expansion. This improvement is expected to be driven by the first full year of yield-enhanced production, reinforcing the company’s operating leverage and supporting its profitability trajectory.
ADMA to Expand Portfolio
ADMA continues to advance SG-001, a hyperimmune globulin targeting S. pneumonia.
It plans to submit a pre-Investigational New Drug (“IND”) meeting package to the FDA in 2026, potentially enabling direct progression into a registrational trial. Management estimates peak annual sales of $300-$500 million, adding meaningful long-term optionality beyond its IVIG products.
ADMA’s Valuation & Estimates
Going by the price/sales ratio, ADMA’s shares currently trade at 3.67x forward sales, lower than its mean of 3.69x but higher than the industry’s 2.08x.
Image Source: Zacks Investment Research
Estimate Movement
The Zacks Consensus Estimate for ADMA’s 2026 earnings per share has moved north to 96 cents in the past 60 days while that for 2027 has remained stable at $1.38.
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.
While the recent pullback in the stock is worrisome, ADMA’s rebuttal to allegations from short seller Culper Research has helped restore investor confidence. ADMA emphasized that demand for its key product, Asceniv, remains strong and growing, supported by distributor and end-user data. The company also countered “channel stuffing” claims, noting that inventory levels are typical for the IVIG market and have declined in recent months, indicating healthy product flow rather than excess stocking.
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.
ADMA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.