Adagio Medical (NASDAQ:ADGM) Stock Rating Upgraded by Zacks Research

Adagio Medical (NASDAQ:ADGM) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on ADGM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagio Medical in a report on Monday, December 22nd. Piper Sandler started coverage on shares of Adagio Medical in a research report on Tuesday. They issued an “overweight” rating and a $3.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.50.

Adagio Medical Price Performance

Shares of NASDAQ ADGM opened at $1.48 on Wednesday. The stock has a market capitalization of $32.87 million, a price-to-earnings ratio of -0.86 and a beta of 0.04. The business has a 50-day moving average of $1.11 and a 200-day moving average of $1.13. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.44 and a quick ratio of 2.24. Adagio Medical has a fifty-two week low of $0.74 and a fifty-two week high of $2.87.

Adagio Medical (NASDAQ:ADGM) last posted its quarterly 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADGM. Cresset Asset Management LLC bought a new stake in Adagio Medical during the second quarter worth $39,000. Adage Capital Partners GP L.L.C. grew its stake 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 worth $1,068,000 after buying an additional 121,261 shares during the last quarter. Perceptive Advisors LLC grew its stake in shares of Adagio Medical by 0.7% during the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after buying an additional 64,157 shares during the last quarter. Geode Capital Management LLC grew its stake 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 worth $71,000 after buying an additional 32,100 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Adagio Medical during the fourth quarter worth $1,206,000. 48.08% of the stock is currently owned by institutional investors.

Adagio Medical Company Profile

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.