NEW YORK, March 31, 2026 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors its investigation on behalf of ADMA Biologics, Inc. (“ADMA” or the “Company”) (NASDAQ:ADMA) investors concerning the Company’s and/or members of its senior management’s possible violation of the federal securities laws or other unlawful business practices. [LEARN MORE ABOUT THE INVESTIGATION] What Happened? On March 24, 2026, Culper Research published a report on ADMA alleging “Channel Stuffing, an Undisclosed ...

Core Viewpoint - ADMA Biologics is under investigation for potential securities fraud following a report by Culper Research, which alleged that the company's reported 20% revenue growth in 2025 was artificially inflated through a channel stuffing scheme, leading to a 29% drop in its stock price [1][3][4]. Company Overview - ADMA Biologics is a biopharmaceutical company focused on manufacturing and developing specialty biologics, with its flagship product being ASCENIV, a liquid immune globulin solution for treating Primary Humoral Immunodeficiency [2]. Investigation Details - Bleichmar Fonti & Auld LLP is investigating ADMA Biologics for potential violations of federal securities laws, specifically regarding allegations of channel stuffing to misrepresent revenue figures [2][3]. - The investigation was prompted by a report from Culper Research, which claimed that ADMA Biologics induced a distributor to stock excess ASCENIV by offering rebates and extended payment terms, allowing the company to report growth that did not exist [3]. Stock Performance - Following the allegations, ADMA Biologics' stock price fell from $13.59 per share on March 23, 2026, to $9.63 per share on March 25, 2026, marking a decline of $3.96 per share or 29% [4].

Company Overview - ADMA Biologics, Inc. is a biologics company that specializes in producing immune globulin (IG) treatments, which are beneficial for treating immune deficiencies and infectious disease indications [1]. Market Position - The company is currently a small player in the large IG market and is anticipating expansion in its operations [1].

Core Viewpoint - Glancy Prongay Wolke & Rotter LLP has initiated an investigation on behalf of ADMA Biologics, Inc. investors regarding potential violations of federal securities laws by the company [1] Group 1 - The investigation is aimed at ADMA Biologics, Inc. (NASDAQ: ADMA) and concerns possible legal claims for investors who have incurred losses [1] - The law firm is reaching out to investors who lost money on ADMA Biologics, indicating a focus on recovering those losses through potential claims [1]

Investment Rating - The report maintains a "BUY" rating for WuXi Biologics, indicating a potential return of over 15% over the next 12 months [18]. Core Insights - WuXi Biologics reported a revenue increase of 16.7% year-over-year (YoY) for 2025, with adjusted attributable net profit rising by 17.9% YoY, both figures exceeding estimates [1]. - The company's backlog grew by 28.3% YoY, reaching US$23.7 billion, marking the second consecutive year of accelerated growth [1]. - Management has provided guidance for 2026, projecting revenue growth of 13% to 17%, with higher growth expected when excluding foreign exchange impacts [1]. - The company added 209 new projects in 2025, a 38.4% YoY increase, with pre-clinical projects up 42% YoY, indicating strong demand for early-stage R&D services [1]. - Revenue from bi- & multi-specific antibody and XDC businesses grew significantly, with bi- & multi-specifics revenue increasing by 120% YoY, contributing nearly 20% of total revenue [1]. - The XDC segment also maintained rapid growth, with revenue increasing by 46.7% YoY [1]. - WuXi Bio aims to expand its manufacturing capacity from 300,000 liters to 370,000 liters by 2029 to meet increasing demand [1]. Financial Summary - For FY25, revenue was reported at RMB 21,790 million, with an adjusted net profit of RMB 5,640 million [2]. - Revenue is projected to grow to RMB 24,974 million in FY26, with adjusted net profit expected to reach RMB 6,697 million [2]. - The adjusted EPS for FY26 is forecasted at RMB 1.62, with a P/E ratio of 18.5 [2]. Target Price - The target price has been raised from HK$35.60 to HK$39.00, reflecting an upside potential of 17.7% from the current price of HK$33.14 [3].

Core Viewpoint - ADMA Biologics Inc. is initiating a significant capital return program for 2026, targeting approximately $200 million in share repurchases, supported by strong financials and free cash flow [1][3]. Group 1: Capital Return Initiative - The company has entered into a $125 million accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank, with an upfront payment of $125 million [2][3]. - ADMA Biologics expects to receive around 6.4 million shares initially, representing about 80% of the anticipated total repurchases based on recent closing prices [2]. - This ASR agreement is part of a broader $500 million repurchase program authorized in May 2025, through which the company has already returned approximately $160 million to stockholders [3]. Group 2: Future Plans - The company intends to remain opportunistic in its capital return efforts, potentially utilizing Rule 10b5-1 trading plans or open-market transactions to achieve its 2026 goals [3]. Group 3: Company Overview - ADMA Biologics is a biotech company focused on developing and marketing specialty plasma-derived biologics for immune deficiencies and infectious diseases [4].

Core Insights - ADMA Biologics reported a strong performance in Q4 2025, with adjusted EPS of 21 cents, up from 14 cents in the same quarter last year, while reported EPS was 20 cents, down from 46 cents year-over-year. Revenues reached $139.2 million, reflecting an 18% increase year-over-year [1][8]. Financial Performance - For the full year 2025, ADMA's revenues totaled $510.2 million, marking a 20% increase from 2024, primarily driven by a 51% rise in Asceniv sales to $362.5 million [10][8]. - The gross margin improved to 63.8% from 54%, attributed to a favorable mix of higher-margin immunoglobulin sales and operational efficiencies [6][8]. - Research & Development expenses rose to $1.4 million from $0.4 million in the previous year, while selling, general, and administrative expenses increased by 0.84% to $23.5 million [6]. Product Performance - Asceniv, ADMA's lead product, is a plasma-derived IVIG indicated for treating primary immunodeficiency disease (PIDD) and has shown record utilization in 2025 [5][10]. - The company expects continued growth for Asceniv in 2026, driven by broader payer coverage and increasing confidence in long-term supply continuity [11][16]. Future Guidance - ADMA anticipates revenues exceeding $635 million in 2026, with net income projected to surpass $255 million, supported by a shift towards higher-margin IVIG products [11][12]. - Management forecasts revenues to exceed $775 million in 2027 and over $1.1 billion by 2029, with adjusted EBITDA expected to reach at least $700 million [14]. Strategic Initiatives - ADMA has entered into agreements to access over 280 plasma collection centers, enhancing its long-term supply outlook and creating a more flexible, capital-efficient supply model [13]. - The company is advancing SG-001, a hyperimmune globulin targeting S. pneumonia, with potential peak annual sales estimated between $300 million and $500 million [15].

Core Insights - The current market environment shows an under allocation to small and mid-cap stocks, with only 3% allocated compared to a typical 7.5% for the Russell 3000 [1] - Valuations for small-cap stocks are reasonable, with the Russell 2500 growth index trading at 21.5 times forward earnings, which is below the S&P 500's typical range [1] - Small and mid-cap stocks are expected to outperform larger stocks due to better growth prospects, with mid-cap sales growth projected at 16% compared to 11% for the S&P 500 [1] Market Dynamics - There is a noticeable rotation from mega-cap tech stocks to sectors like energy, materials, and small and mid-sized companies [2] - The economic environment is conducive for small caps to outperform, particularly as interest rates decline and inflation remains low [3] - The shift in investment focus is expected to continue, benefiting small and mid-cap stocks at the expense of mega-cap tech [4] Sector Performance - Hardware and semiconductor sectors are benefiting from increased capital expenditures, particularly for AI data centers, while software companies are facing challenges [4] - Small-cap software stocks have seen a significant decline, down 40% year-over-year, while hardware companies are thriving [5] - Companies like Datadog and Dynatrace are highlighted as strong performers in the observability space, with solid growth prospects [5] Investment Opportunities - AI applications are emerging in various sectors, including law enforcement and healthcare, with companies like Axon and Tempest AI leading the way [7][8] - The healthcare sector is also seeing investment opportunities, particularly in cancer diagnostics and biologics manufacturing [8] - The focus is on identifying companies with strong fundamentals and competitive advantages that can deliver significant growth over a 3 to 5 year horizon [10] Economic Implications - A broadening market with increased investment in small and mid-cap stocks is seen as healthy for the overall economy, benefiting consumer spending [11] - The expectation is that the economic benefits will be more widely distributed, positively impacting the stock market across all capitalizations [11]

Core Viewpoint - The tech sector is experiencing a shift as investors are increasingly focusing on small and midcap stocks, moving away from mega cap tech dominance, driven by underallocation, reasonable valuations, and better growth prospects in smaller companies [1][2][3][5]. Group 1: Market Dynamics - There is a notable underallocation to small and midcap stocks, currently at about 3% of the Russell 3000, compared to a typical allocation of 7.5% [3]. - The Russell 2500 growth index is trading at approximately 21.5 times earnings, which is below the S&P 500's typical range of 15 to 17 times over the past 20 years [4]. - Small cap stocks are projected to grow at a forward sales rate of about 16%, compared to 11% for the S&P 500, indicating a potential for better growth in smaller companies [5][6]. Group 2: Economic Environment - The current economic environment, characterized by low inflation and potential GDP growth of around 5%, is favorable for small cap stocks [6][7]. - Increased productivity is helping to keep wage-push inflation down, and tariffs have not significantly impacted the market [8]. Group 3: Sector Performance - Investment is shifting from software to hardware and semiconductor sectors, particularly benefiting companies involved in AI data center buildouts, with capital expenditures expected to rise from $200 billion in 2024 to $650 billion in 2025 [11][12]. - Software companies are facing challenges, with an average decline of 20% year-to-date and a 40% drop in small cap software over the past year [12][13]. Group 4: Investment Opportunities - Companies like Data Dog and Dinatrace are highlighted as strong investments due to their embedded roles in network infrastructure and high free cash flow growth [15][16]. - In healthcare, companies like Tempest AI are leveraging AI for cancer diagnostics, creating unique databases that enhance drug development [21][22]. Group 5: Broader Market Implications - A broadening market, with increased investment in small and midcap stocks, is seen as healthy for the overall economy, potentially benefiting consumer spending [30][31]. - The disconnect in valuations between small and large cap stocks is historically significant, suggesting potential for growth in the small cap sector [32].

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