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 earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $24.25.

Several research firms recently commented on ANL. HC Wainwright boosted their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Oppenheimer began coverage on shares of Adlai Nortye in a research note on Thursday, May 28th. They set an “outperform” rating and a $32.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They set an “overweight” rating for the company. JonesTrading initiated coverage on Adlai Nortye in a research report on Thursday, May 14th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th.

Hedge Funds Weigh In On Adlai Nortye

Several institutional investors and hedge funds have recently modified their holdings of ANL. Affinity Asset Advisors LLC purchased a new position in shares of Adlai Nortye in the 1st quarter worth about $1,140,000. ADAR1 Capital Management LLC purchased a new stake in Adlai Nortye during the 1st quarter valued at about $816,000. Renaissance Technologies LLC bought a new stake in Adlai Nortye during the 1st quarter valued at about $457,000. Finally, SmartHarvest Portfolios LLC raised its holdings in Adlai Nortye by 8.5% in the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after buying an additional 1,279 shares during the last quarter. 35.21% of the stock is currently owned by institutional investors.

Adlai Nortye Stock Down 0.3%

NASDAQ:ANL opened at $13.22 on Friday. The firm’s 50-day moving average price is $10.97 and its 200-day moving average price is $9.56. Adlai Nortye has a 1-year low of $0.88 and a 1-year high of $17.25.

Adlai Nortye Company Profile

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.