Adagio Medical (NASDAQ:ADGM) Upgraded to Strong-Buy at Piper Sandler

Piper Sandler upgraded shares of Adagio Medical (NASDAQ:ADGM) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.50.

Adagio Medical Price Performance

Shares of ADGM stock opened at $1.63 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.44 and a quick ratio of 2.24. The firm’s 50-day moving average is $1.09 and its two-hundred day moving average is $1.13. Adagio Medical has a 12 month low of $0.74 and a 12 month high of $2.87. The company has a market capitalization of $36.20 million, a PE ratio of -0.94 and a beta of 0.04.

Adagio Medical (NASDAQ:ADGM) last issued its earnings results on Friday, March 27th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10.

Institutional Investors Weigh In On Adagio Medical

Institutional investors have recently made changes to their positions in the stock. Cresset Asset Management LLC acquired a new stake in shares of Adagio Medical during the second quarter valued at about $39,000. Geode Capital Management LLC increased its position in shares of Adagio Medical by 88.6% during the fourth quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after acquiring an additional 32,100 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Adagio Medical during the fourth quarter valued at about $308,000. Armistice Capital LLC acquired a new stake in shares of Adagio Medical during the fourth quarter valued at about $497,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Adagio Medical by 17.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock valued at $1,068,000 after acquiring an additional 121,261 shares during the last quarter. 48.08% of the stock is currently owned by institutional investors and hedge funds.

About Adagio Medical

Adagio Medical, Inc (NASDAQ: ADGM) is a medical device company focused on the development and commercialization of a noninvasive system for monitoring intracranial pressure (ICP). The company’s proprietary technology uses tympanic membrane displacement to provide clinicians with real-time estimates of ICP without the risks associated with invasive catheter methods. This approach is designed to improve patient safety, reduce complications, and streamline neurological monitoring in acute and critical care settings.

At the core of Adagio Medical’s pipeline is its ADGM System, which is intended for use in hospitals, emergency departments, and other clinical environments where rapid and accurate assessment of ICP is crucial.