ADMA Biologics screens at a forward price-to-earnings ratio of 8.5x and PEG of 0.18, with a return on equity of 43%, wide moat characteristics, and analyst consensus implying roughly 107% upside; the primary cautions are a free cash flow conversion of only 35% of net income and a confirmed long-term trend breakdown — though improving near-term momentum indicators suggest a recovery setup may be forming.
Thesis pillars
- Deep Valuation Discount↓Deteriorating
- Superior Returns Versus Peers→Stable
- Fcf Conversion Shortfall→Stable
- +2 more pillars — see the Why tab for full reasoning
ADMA Biologics Inc (ADMA) Stock Analysis
Recovery setup · Temporary headwind edge
Healthcare · Biotechnology
Hold if already holding. Not a fresh buy at $9.52, but acceptable to hold if already in. Reasons: Weak growth; Negative momentum.
ADMA Biologics manufactures and commercializes three FDA-approved plasma-derived specialty biologics — ASCENIV and BIVIGAM (IVIG products for primary immunodeficiency) and Nabi-HB (hepatitis B immune globulin) — produced at its Boca Raton, Florida plasma fractionation facility.... Read more
Hold if already holding. Not a fresh buy at $9.52, but acceptable to hold if already in. Reasons: Weak growth; Negative momentum. Chart setup: Death cross but MACD improving, RSI 48. News gate: 0 distinct critical events (0 MATERIAL_RISK articles) Score 6.0/10, moderate confidence.
Passes 7/9 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity 40d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and death cross (50MA < 200MA). Suitability: speculative.
About ADMA Biologics Inc
About ADMA Biologics Inc
ASCENIV, BIVIGAM, and Nabi-HB — ADMA Biologics' three FDA-approved plasma-derived biologics — are its sole commercial products, with 2026 revenue targeted at more than $635 million from the Boca Raton, Florida fractionation facility. The FDA approved a yield enhancement process in April 2025, expected to increase ASCENIV and BIVIGAM production yields by approximately 20% from the same starting source plasma volume. The company operated 10 FDA-licensed plasma collection centers at December 31, 2025, with three earmarked for divestiture at an aggregate price of $12.0 million.
ADMA earns revenue from specialty biologic sales distributed through national specialty distributors to home healthcare infusion facilities, hospitals, and physician offices. The Centers for Medicare and Medicaid Services issued a permanent J-code (J1554) for ASCENIV effective April 2021, enabling consistent reimbursement coding. ASCENIV targets patients with primary immunodeficiency disease — an estimated 150,000 to 250,000 diagnosed U.S. patients, roughly half treated with IVIG regularly — while BIVIGAM covers a broader PI population including pediatric patients two years and older following a December 2023 FDA label expansion. Plasma supply comes from ADMA BioCenters' collection network plus third-party supply agreements; the December 2025 divestiture of three collection centers included long-term plasma supply agreements with the buyer designed to sustain supply through the late 2030s. A portion of collected plasma not consumed in-house is sold to third-party customers in U.S. and international spot markets. Third-party contractors supplement in-house fill-finish capability at the Boca Facility.
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ADMA's commercial output flows through a single FDA-licensed plasma fractionation facility in Boca Raton, Florida; the 10-K states the company has no alternative manufacturing facility or contractual arrangements with other manufacturers in the event of a casualty to or destruction of any of its facilities. A natural disaster, fire, or FDA enforcement action — such as a warning letter following an inspection of the Boca Facility — could interrupt supply of all three commercial products simultaneously. Compounding this, historically a few customers have accounted for a significant amount of total revenue, meaning a supply disruption could simultaneously trigger customer retention risk.
See also: Healthcare · Biotechnology
From ADMA Biologics Inc's most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-09-25Recent Developments — ADMA Biologics Inc
Latest news
- NEWS ADMA BIOLOGICS, INC. INVESTORS WITH LOSSES HAVE UNTIL - GlobeNewswire — GlobeNewswire negative
- NEWS ADMA BIOLOGICS, INC. INVESTORS WITH LOSSES HAVE UNTIL - globenewswire.com — globenewswire.com negative
- NEWS Wall Street Analysts See Adma Biologics (ADMA) as a Buy: Should You Invest? - Yahoo Finance — Yahoo Finance positive
- NEWS Wall Street Analysts See Adma Biologics (ADMA) as a Buy: Should You Invest? - finance.yahoo.com — finance.yahoo.com positive
- NEWS ADMA|ADMA Biologics Inc|Price:8.545|Chg%:-0.165 - TradingKey — TradingKey neutral
Generated 2026-09-25T20:52:02Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomerfew customers10-K Item 1A: 'Historically, a few customers have accounted for a significant amount of our total revenue and accounts receivable'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
2 floor-breakers
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $9.52, but acceptable to hold if already in. Reasons: Weak growth; Negative momentum. Chart setup: Death cross but MACD improving, RSI 48. News gate: 0 distinct critical events (0 MATERIAL_RISK articles) Target $14.45 (+51.9%), stop $8.62 (−10.4%), A.R:R 5.1:1. Score 6.0/10, moderate confidence.
Take-profit target: $14.45 (+51.9% upside). Target $14.45 (+51.9%), stop $8.62 (−10.4%), A.R:R 5.1:1. Stop-loss: $8.62.
Weak growth; Negative momentum; Below 200-MA, MA slope -8.4%/30d (confirmed downtrend).
ADMA Biologics Inc trades at a P/E of 13.8 (forward 10.1). TrendMatrix value score: 8.3/10. Verdict: Hold.
11 analysts cover ADMA with a consensus score of 4.0/5. Average price target: $17.
What does ADMA Biologics Inc do?ADMA Biologics manufactures and commercializes three FDA-approved plasma-derived specialty biologics — ASCENIV and...
ADMA Biologics manufactures and commercializes three FDA-approved plasma-derived specialty biologics — ASCENIV and BIVIGAM (IVIG products for primary immunodeficiency) and Nabi-HB (hepatitis B immune globulin) — produced at its Boca Raton, Florida plasma fractionation facility. Revenue comes from specialty biologic sales through national distributors; the company targets more than $635 million in 2026 revenue and also sells excess source plasma to third parties.