Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives Consensus Recommendation of “Buy” from Analysts

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has earned an average recommendation of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $8.00.

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research note on Monday, April 20th. Guggenheim increased their price target on Adagene from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Finally, Wall Street Zen raised Adagene to a “hold” rating in a research note on Saturday, March 21st.

Adagene Stock Down 1.1%

Adagene stock opened at $3.66 on Friday. The stock’s 50 day moving average price is $3.74 and its 200 day moving average price is $2.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.07 and a quick ratio of 3.07. Adagene has a one year low of $1.30 and a one year high of $4.75.

Adagene (NASDAQ:ADAG) last announced its earnings results on Saturday, February 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $3.84 million during the quarter. Research analysts forecast that Adagene will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adagene

A number of hedge funds and other institutional investors have recently made changes to their positions in ADAG. Renaissance Technologies LLC acquired a new position in shares of Adagene during the 1st quarter valued at about $135,000. Fifth Lane Capital LP increased its holdings 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 valued at $274,000 after acquiring an additional 117,500 shares during the last quarter. Exome Asset Management LLC acquired a new position in shares of Adagene during the 4th quarter valued at about $2,004,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene during the 4th quarter valued at about $73,000. Finally, Citadel Advisors LLC acquired a new position in shares of Adagene during the 3rd quarter valued at about $80,000. 9.51% of the stock is owned by hedge funds and other institutional investors.

Adagene Company Profile

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.