Brokerages Set Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Target Price at $8.00

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have received an average rating of “Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.00.

ADAG has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagene in a research report on Monday, April 20th. Wall Street Zen upgraded Adagene to a “hold” rating in a research report on Saturday, March 21st. Finally, Guggenheim lifted their price objective on Adagene from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 6th.

Hedge Funds Weigh In On Adagene

Institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC bought a new position in Adagene in the 3rd quarter valued at $80,000. Fifth Lane Capital LP raised its position in Adagene by 427.3% in the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock valued at $274,000 after purchasing an additional 117,500 shares during the last quarter. Exome Asset Management LLC bought a new position in Adagene in the 4th quarter valued at $2,004,000. SmartHarvest Portfolios LLC bought a new position in Adagene in the 4th quarter valued at $73,000. Finally, Marex Group plc bought a new position in Adagene in the 2nd quarter valued at $47,000. Institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Adagene stock opened at $3.32 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.07. Adagene has a one year low of $1.30 and a one year high of $4.75. The business has a 50 day simple moving average of $3.77 and a 200 day simple moving average of $2.93.

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

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.