NasdaqGM:ADMABiotechs
Should Channel-Stuffing Allegations and Rising Receivables Require Action From ADMA Biologics (ADMA) Investors?
In March and April 2026, Cantor Fitzgerald downgraded ADMA Biologics following a short report alleging Asceniv revenue channel stuffing, while Mizuho maintained an Outperform rating but reset expectations.
ADMA Biologics firmly rejected the Culper Research claims as unsubstantiated and misleading, yet rising receivables and days’ sales outstanding left some investors questioning the transparency of its reported growth.
Next, we’ll examine how these channel-stuffing allegations and concerns...