Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives $8.00 Consensus Target Price from Brokerages

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been given a consensus recommendation of “Buy” by the five analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.00.

A number of research firms have weighed in on ADAG. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a report on Monday. Wall Street Zen raised shares of Adagene to a “hold” rating in a report on Saturday, March 21st. Finally, Guggenheim boosted their target price on shares of Adagene from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 6th.

Adagene Price Performance

Shares of Adagene stock opened at $3.80 on Wednesday. Adagene has a 1 year low of $1.30 and a 1 year high of $4.75. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $3.59 and its 200 day moving average is $2.53.

Adagene (NASDAQ:ADAG) last posted its earnings results 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. Sell-side analysts expect that Adagene will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adagene

A number of institutional investors have recently added to or reduced their stakes in ADAG. Marex Group plc bought a new stake in Adagene during the 2nd quarter worth approximately $47,000. Gordian Capital Singapore Pte Ltd grew its holdings in 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 acquiring an additional 24,342 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Adagene in the 3rd quarter worth approximately $80,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene in the 4th quarter worth approximately $73,000. Finally, Exome Asset Management LLC acquired a new position in shares of Adagene in the 4th quarter worth approximately $2,004,000. 9.51% of the stock is owned by institutional investors.

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.