FY2024 Earnings Forecast for Adagene Issued By HC Wainwright

Adagene Inc. (NASDAQ:ADAG) – Research analysts at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Adagene in a research report issued to clients and investors on Monday, January 27th. HC Wainwright analyst A. He now anticipates that the company will earn ($0.64) per share for the year, up from their prior forecast of ($0.78). HC Wainwright currently has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for Adagene’s current full-year earnings is ($0.65) per share. HC Wainwright also issued estimates for Adagene’s FY2025 earnings at ($0.74) EPS, FY2026 earnings at ($0.77) EPS, FY2027 earnings at ($1.33) EPS and FY2028 earnings at ($1.26) EPS.

Adagene Trading Up 1.1 %

Shares of ADAG opened at $1.87 on Wednesday. The stock has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.40. Adagene has a one year low of $1.74 and a one year high of $4.29.

Institutional Investors Weigh In On Adagene

A number of large investors have recently modified their holdings of the business. Exome Asset Management LLC boosted its position in Adagene by 74.1% during the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock worth $583,000 after acquiring an additional 111,749 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new position in Adagene in the 3rd quarter worth approximately $202,000. Finally, Catalina Capital Group LLC lifted its stake in Adagene by 129.2% in the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock worth $58,000 after purchasing an additional 16,461 shares in the last quarter. Hedge funds and other institutional investors own 9.51% of the company’s stock.

About Adagene

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.