Analysts Set Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Target Price at $7.67

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has been assigned an average recommendation of “Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.6667.

ADAG has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a report on Wednesday, January 21st. Lifesci Capital raised shares of Adagene to a “strong-buy” rating in a research note on Friday, November 14th. Finally, Guggenheim assumed coverage on shares of Adagene in a research note on Monday, November 24th. They set a “buy” rating and a $9.00 target price on the stock.

Adagene Price Performance

Shares of ADAG stock opened at $2.94 on Thursday. Adagene has a one year low of $1.30 and a one year high of $3.16. The company’s 50-day moving average is $1.97 and its 200 day moving average is $1.97.

Institutional Trading of Adagene

Several hedge funds and other institutional investors have recently made changes to their positions in ADAG. Marex Group plc acquired a new position in Adagene in the second quarter valued at $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 valued at $96,000 after purchasing an additional 24,342 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Adagene in the third quarter worth about $80,000. Institutional investors and hedge funds own 9.51% of the company’s stock.

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.