ADMA Biologics (ADMA) AI Stock Analysis

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ADMA Biologics

(NASDAQ:ADMA)

Rating:77Outperform

Price Target:

$23.50

▲(14.02%Upside)

ADMA Biologics has a strong overall stock score driven primarily by robust financial performance and positive earnings call highlights, which include strategic guidance increases and a stock repurchase program. Technical analysis provides a mixed signal, and the valuation suggests fair pricing. The company's operational improvements and strategic initiatives underpin a positive outlook despite some operational challenges.

Positive Factors

Earnings

ADMA Biologics Inc has raised its 2025-2026 revenue guidance, indicating strong growth expectations.

Production

The anticipated approval of Ig yield enhancement is expected to significantly increase production output, contributing to potential sales and margin growth.

Supply Chain

Long-term plasma supply agreements have set the stage for achieving over $1 billion in sales by 2030.

Negative Factors

Financial Performance

Key triggers behind the sell-off were a more modest than expected 2025 guide, ambiguity on bullish implications of the enhanced supply agreements, and valuation friction.

Regulatory

ADMA stated it would be unable to file its 2024 10-K within the prescribed timeframe.

ADMA Biologics (ADMA) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$4.76B

Dividend YieldN/A

Average Volume (3M)3.33M

Price to Earnings (P/E)24.4

Beta (1Y)1.05

Revenue Growth62.22%

EPS GrowthN/A

CountryUS

Employees685

SectorHealthcare

Sector Strength41

IndustryBiotechnology

Share Statistics

EPS (TTM)0.14

Shares Outstanding238,734,250

10 Day Avg. Volume1,928,172

30 Day Avg. Volume3,331,464

Financial Highlights & Ratios

PEG Ratio0.13

Price to Book (P/B)13.44

Price to Sales (P/S)0.00

P/FCF Ratio42.68

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

$30.67

Price Target Upside48.81% Upside

Rating ConsensusStrong Buy

Number of Analyst Covering3

ADMA Biologics Business Overview & Revenue Model

Company DescriptionADMA Biologics is a publicly traded biopharmaceutical company specializing in the development, manufacture, and commercialization of specialty plasma-derived biologics. Headquartered in the United States, ADMA focuses on treating and preventing infectious diseases in immune-compromised patients, with a portfolio that includes immune globulin products and other plasma-derived therapeutics.

How the Company Makes MoneyADMA Biologics generates revenue primarily through the sale of its plasma-derived products. The company's flagship products include ASCENIV and BIVIGAM, which are used to treat immune deficiencies and other related conditions. ADMA operates plasma collection centers, which provide the raw materials necessary for these biologics. The company has established distribution networks and partnerships with healthcare providers and specialty pharmacies to reach its target markets. Additionally, ADMA may engage in strategic collaborations and licensing agreements to expand its product offerings and market reach, contributing to its overall revenue.

ADMA Biologics Earnings Call Summary

Earnings Call Date:May 07, 2025

(Q1-2025)

% Change Since: -12.71%|

Next Earnings Date:Aug 06, 2025

Earnings Call Sentiment Positive

The earnings call for ADMA Biologics reflected strong financial growth and operational achievements, notably with the FDA approval for a new production process and raised financial guidance. However, challenges such as voluntary product withdrawals and high operating expenses were also evident. Overall, the sentiment remains optimistic, supported by strategic initiatives and financial strength.

Q1-2025 Updates

Positive Updates

Strong Financial Growth

Total revenues reached $114.8 million, a $32.9 million increase year-over-year, marking a growth rate of approximately 40%. Adjusted EBITDA grew by approximately 81% year-over-year. Adjusted net income increased by 87% year-over-year.

FDA Approval for Yield Enhancement Process

ADMA received FDA approval for a novel yield enhancement production process, which is expected to provide 20% more bulk IG from the same starting plasma volumes.

Raised Financial Guidance

Guidance for 2025 and 2026 was raised, with 2025 total revenue guidance increased to $500 million or more, and 2026 total revenue guidance increased to $625 million or more.

Stock Repurchase Program

The Board authorized a stock repurchase program allowing ADMA to purchase up to $500 million of its common stock, approximately 8% of the company’s total current market cap.

Debt Reorganization

Debt reorganization with Ares Capital Management was completed, reducing the total cost of debt by 1.1%.

Negative Updates

Voluntary Product Withdrawals

The company faced voluntary product withdrawals during the first quarter, affecting revenues. This involved a $3.8 million impact due to adverse events experienced by patients.

Ongoing High Operating Expenses

The company expects a normalization in operating expenses as it progresses through 2025, which were elevated due to strategic increases in medical education and promotion activities.

Company Guidance

During ADMA Biologics' first quarter 2025 conference call, the company announced a significant financial and operational upturn, with total revenues reaching $114.8 million, reflecting an impressive 40% year-over-year growth. The adjusted net income and adjusted EBITDA surged by approximately 87% and 81% year-over-year, respectively. In light of these robust results, ADMA revised its 2025 guidance, projecting total revenues of $500 million or more, adjusted EBITDA of at least $235 million, and reaffirmed adjusted net income guidance of at least $175 million. For 2026, expectations were increased to $625 million in total revenue, $340 million or more in adjusted EBITDA, and adjusted net income of at least $245 million. The company also anticipates reaching $1.1 billion in total annual revenue before 2030. Additionally, ADMA announced a $500 million stock repurchase program, emphasizing its strategic capital allocation and commitment to enhancing shareholder value. The company's confidence is further bolstered by its FDA-approved yield enhancement production process, enabling a 20% increase in bulk IG production from the same plasma volumes, positioning ADMA as a leader in the plasma-derived therapies market.

ADMA Biologics Financial Statement Overview

Summary

ADMA Biologics has demonstrated remarkable financial improvement across income, balance sheet, and cash flow metrics. The company exhibits strong revenue and profit growth, improved operational efficiency, reduced leverage, and robust cash flow generation. These factors collectively signal a positive financial trajectory, positioning ADMA well for future growth and stability in the biotechnology industry.

Income Statement

Very Positive

ADMA Biologics has shown significant improvement in its income statement metrics over the years. The gross profit margin for 2024 is approximately 51.5%, reflecting efficient cost management. The net profit margin turned positive to 46.3% in 2024, a substantial improvement from negative figures in previous years, indicating successful turnaround efforts. The revenue growth rate from 2023 to 2024 is impressive at 65.1%, showcasing strong business expansion. Both EBIT and EBITDA margins have improved to 32.6% in 2024, highlighting operational efficiency. These improvements reflect robust financial health in the income statement.

Balance Sheet

Positive

The balance sheet of ADMA Biologics shows an improved financial position. The debt-to-equity ratio has decreased to 0.24 in 2024, demonstrating reduced leverage compared to prior years. The return on equity (ROE) has increased to 56.6%, indicating efficient use of equity capital to generate profits. The equity ratio stands at 71.4% in 2024, indicating strong equity financing and financial stability. Overall, the balance sheet metrics reflect a healthier and more stable financial structure.

Cash Flow

Positive

ADMA Biologics has achieved a strong turnaround in cash flow metrics. The free cash flow growth rate is notable, with free cash flow turning positive to $118.67 million in 2024 from negative figures in prior years. The operating cash flow to net income ratio is favorable at 0.60, indicating that the company's net income is well-supported by cash operations. The free cash flow to net income ratio matches the operating cash flow, indicating efficient cash generation relative to net income. These positive cash flow trends enhance the company's liquidity position.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
426.45M	258.21M	154.08M	80.94M	42.22M
	Gross Profit
219.55M	88.94M	35.27M	1.17M	-19.07M
	EBIT
138.98M	21.63M	-39.37M	-58.37M	-64.91M
	EBITDA
147.69M	5.12M	-39.72M	-53.33M	-59.82M
	Net Income Common Stockholders
197.67M	-28.24M	-85.18M	-84.45M	-87.61M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
103.15M	51.35M	86.52M	51.09M	55.92M
	Total Assets
488.68M	329.18M	348.46M	276.25M	207.67M
	Total Debt
82.12M	141.42M	154.44M	102.92M	97.67M
	Net Debt
-21.03M	90.07M	67.92M	51.83M	41.75M
	Total Liabilities
139.66M	193.98M	196.49M	135.08M	119.42M
	Stockholders Equity
349.02M	135.21M	151.97M	141.17M	88.25M
Cash Flow		Free Cash Flow
118.67M	3.82M	-73.42M	-125.88M	-114.73M
	Operating Cash Flow
118.67M	8.80M	-59.51M	-112.37M	-102.00M
	Investing Cash Flow
-8.57M	-4.98M	-13.91M	-13.51M	-12.72M
	Financing Cash Flow
-58.30M	-38.99M	108.85M	121.05M	143.90M

ADMA Biologics Technical Analysis

Technical Analysis Sentiment

Positive

Last Price20.61

Price Trends

50DMA

20.71

Negative

100DMA

18.85

Positive

200DMA

18.72

Positive

Market Momentum

MACD

-0.19

Negative

RSI

51.34

Neutral

STOCH

67.11

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADMA, the sentiment is Positive. The current price of 20.61 is above the 20-day moving average (MA) of 20.04, below the 50-day MA of 20.71, and above the 200-day MA of 18.72, indicating a neutral trend. The MACD of -0.19 indicates Negative momentum. The RSI at 51.34 is Neutral, neither overbought nor oversold. The STOCH value of 67.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ADMA.

ADMA Biologics Risk Analysis

ADMA Biologics disclosed 55 risk factors in its most recent earnings report. ADMA Biologics reported the most risks in the “Finance & Corporate” category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 3 New Risks

Many of our business practices are subject to scrutiny by federal and state regulatory authorities, as well as to lawsuits brought by private citizens under federal and state laws. Failure to comply with applicable law or an adverse decision in lawsuits may result in adverse consequences to us. Q2, 2024

Our accruals for U.S. Medicaid rebates and other liabilities related to the sale of our immunoglobulin products are estimates based on historical experience and other assumptions. These estimates are subject to change based on actual results and other factors. Any such change could have a material effect on our business, financial position, and operating results. Q2, 2024

If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business. Q2, 2024

ADMA Biologics Peers Comparison

Overall Rating

UnderperformOutperform

Sector (54)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADMA	77 Outperform	$4.76B	24.42	78.45%	―	62.22%	―
VRNA	68 Neutral	$7.28B	―	-72.73%	―	―	-157.53%
IONS	61 Neutral	$5.61B	―	-118.53%	―	-7.65%	-11.81%
ZLAB	58 Neutral	$4.01B	―	-32.05%	―	43.72%	28.63%
Sector *	54 Neutral	$5.24B	3.27	-45.39%	2.80%	16.77%	-0.07%
PCVX	50 Neutral	$4.49B	―	-19.66%	―	―	7.75%
CYTK	36 Underperform	$3.83B	―	435.49%	―	412.21%	1.75%

* Healthcare Sector Average

Performance Comparison

ADMA

ADMA Biologics

20.61

10.13

96.66%

CYTK

Cytokinetics

32.30

-21.86

-40.36%

IONS

Ionis Pharmaceuticals

35.29

-4.50

-11.31%

VRNA

Verona Pharma

84.34

71.69

566.72%

ZLAB

Zai Lab

38.11

18.11

90.55%

PCVX

Vaxcyte

36.99

-34.89

-48.54%

ADMA Biologics Corporate Events

Executive/Board ChangesShareholder MeetingsBusiness Operations and Strategy

ADMA Biologics Holds Annual Stockholders Meeting

Neutral

Jun 4, 2025

On June 4, 2025, ADMA Biologics, Inc. held its Annual Meeting of Stockholders, where key decisions were made, including the election of two Class III directors, ratification of KPMG LLP as the independent public accounting firm for 2025, approval of executive compensation, and setting the frequency of future advisory votes on executive pay to annually. These decisions reflect the company’s ongoing governance and operational strategies, potentially impacting its market positioning and stakeholder engagement.

The most recent analyst rating on (ADMA) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on ADMA Biologics stock, see the ADMA Stock Forecast page.

Stock BuybackBusiness Operations and StrategyFinancial Disclosures

ADMA Biologics Announces $500M Share Repurchase Program

Positive

May 7, 2025

In the first quarter of 2025, ADMA Biologics reported a significant financial performance with a 40% increase in total revenue and an 81% rise in adjusted EBITDA year-over-year. The company announced a $500 million share repurchase program and a debt reorganization that reduced its cost of debt by 1.1%. Additionally, the FDA approved ADMA’s yield enhancement production process, expected to boost production output by 20%, supporting revenue growth and margin expansion. The company has increased its revenue guidance for 2025 and 2026, projecting total annual revenues to exceed $1.1 billion by 2030.

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.