Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Given Average Rating of “Buy” by Analysts

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have earned an average rating of “Buy” from the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.00.

Several analysts have commented on the company. Guggenheim raised their price objective on Adagene from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagene in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Adagene to a “hold” rating in a research note on Saturday, March 21st.

Institutional Trading of Adagene

Institutional investors have recently modified their holdings of the stock. Marex Group plc purchased a new stake in shares of Adagene during the second quarter worth about $47,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene during the 4th quarter worth about $73,000. Citadel Advisors LLC purchased a new position in Adagene in the 3rd quarter valued at about $80,000. Gordian Capital Singapore Pte Ltd lifted its stake in Adagene by 101.4% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after buying an additional 24,342 shares in the last quarter. Finally, Fifth Lane Capital LP boosted its holdings in Adagene by 427.3% in the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock worth $274,000 after buying an additional 117,500 shares during the last quarter. Institutional investors and hedge funds own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of Adagene stock opened at $3.97 on Wednesday. The firm has a 50-day simple moving average of $3.55 and a two-hundred day simple moving average of $2.51. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Adagene has a fifty-two week low of $1.30 and a fifty-two week high of $4.75.

Adagene (NASDAQ:ADAG) last announced its quarterly earnings results on Saturday, February 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $3.84 million during the quarter. Equities research analysts forecast that Adagene will post -0.6 earnings per share for the current year.

About Adagene

Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene’s pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.

At the core of Adagene’s research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.