Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.00.

Several research analysts have issued reports on ADAG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adagene in a report on Wednesday, October 8th. Leerink Partnrs upgraded shares of Adagene to a “strong-buy” rating in a report on Wednesday, August 6th. Lifesci Capital upgraded Adagene to a “strong-buy” rating in a research note on Friday. Leerink Partners assumed coverage on Adagene in a report on Wednesday, August 6th. They issued an “outperform” rating and a $7.00 target price for the company. Finally, HC Wainwright decreased their price target on Adagene from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 15th.

Adagene Stock Performance

Adagene stock traded up $0.03 during mid-day trading on Friday, reaching $1.83. The stock had a trading volume of 31,113 shares, compared to its average volume of 82,086. Adagene has a one year low of $1.30 and a one year high of $3.16. The company has a 50-day moving average price of $1.92 and a two-hundred day moving average price of $1.92.

Institutional Trading of Adagene

A hedge fund recently bought a new stake in Adagene stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,900 shares of the company’s stock, valued at approximately $29,000. 9.51% of the stock is currently owned by institutional investors.

Adagene Company Profile

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.