Brokerages Set Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Target Price at $8.00

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has received an average recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.00.

ADAG has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Adagene to a “hold” rating in a research report on Saturday, March 21st. Finally, Guggenheim raised their price objective on shares of Adagene from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 6th.

Institutional Investors Weigh In On Adagene

Several institutional investors have recently modified their holdings of the business. Exome Asset Management LLC acquired a new stake in shares of Adagene during the 4th quarter worth approximately $2,004,000. Fifth Lane Capital LP grew its position in shares of Adagene by 427.3% during 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 period. Gordian Capital Singapore Pte Ltd grew its position in shares of Adagene by 101.4% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock worth $96,000 after buying an additional 24,342 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Adagene during the 3rd quarter worth approximately $80,000. Finally, SmartHarvest Portfolios LLC acquired a new stake in shares of Adagene during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 9.51% of the company’s stock.

Adagene Stock Performance

ADAG opened at $3.32 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.07. Adagene has a 1-year low of $1.30 and a 1-year high of $4.75. The firm has a 50-day moving average price of $3.74 and a two-hundred day moving average price of $2.97.

Adagene (NASDAQ:ADAG) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $3.84 million for the quarter. As a group, analysts expect that Adagene will post -0.49 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.