JonesTrading Begins Coverage on Adlai Nortye (NASDAQ:ANL)

Equities research analysts at JonesTrading started coverage on shares of Adlai Nortye (NASDAQ:ANL) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $22.00 price target on the stock. JonesTrading’s price target would suggest a potential upside of 58.73% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen raised Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. HC Wainwright upped their price objective on Adlai Nortye from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Leerink Partners assumed coverage on Adlai Nortye in a research report on Friday, March 20th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Adlai Nortye Stock Down 0.6%

Shares of ANL stock traded down $0.08 during midday trading on Thursday, reaching $13.86. 122,176 shares of the stock were exchanged, compared to its average volume of 568,495. Adlai Nortye has a 1 year low of $0.88 and a 1 year high of $17.25. The company’s 50 day moving average is $10.82 and its two-hundred day moving average is $6.12.

Hedge Funds Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. SmartHarvest Portfolios LLC increased its stake in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,367 shares of the company’s stock after purchasing an additional 1,279 shares during the quarter. SmartHarvest Portfolios LLC’s holdings in Adlai Nortye were worth $113,000 at the end of the most recent quarter. Institutional investors and hedge funds own 35.21% of the company’s stock.

About Adlai Nortye

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.