Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.6667.

ANL has been the topic of a number of recent analyst reports. JonesTrading initiated coverage on Adlai Nortye in a research report on Thursday, May 14th. They issued a “buy” rating and a $22.00 target price on the stock. Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. Oppenheimer started coverage on Adlai Nortye in a research report on Thursday. They issued an “outperform” rating on the stock. HC Wainwright lifted their price target on Adlai Nortye from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Leerink Partners started coverage on Adlai Nortye in a report on Friday, March 20th. They set an “outperform” rating and a $23.00 price target on the stock.

Adlai Nortye Trading Down 3.1%

Adlai Nortye stock opened at $11.00 on Thursday. Adlai Nortye has a 12-month low of $0.88 and a 12-month high of $17.25. The business’s 50-day moving average price is $11.49 and its two-hundred day moving average price is $6.86.

Institutional Trading of Adlai Nortye

Hedge funds and other institutional investors have recently made changes to their positions in the company. SmartHarvest Portfolios LLC grew its holdings in shares of Adlai Nortye by 8.5% during the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after purchasing an additional 1,279 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Adlai Nortye in the first quarter worth approximately $457,000. ADAR1 Capital Management LLC acquired a new position in shares of Adlai Nortye in the first quarter worth approximately $816,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Adlai Nortye in the first quarter worth approximately $1,140,000. 35.21% of the stock is currently owned by institutional investors.

About Adlai Nortye

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.