Adlai Nortye (NASDAQ:ANL) Stock Price Up 18.1% – What’s Next?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s share price shot up 18.1% on Friday . The company traded as high as $15.20 and last traded at $16.1710. 227,864 shares were traded during mid-day trading, a decline of 62% from the average session volume of 597,355 shares. The stock had previously closed at $13.69.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ANL. Wall Street Zen upgraded shares of Adlai Nortye to a “hold” rating in a research note on Saturday, March 7th. Leerink Partners started coverage on shares of Adlai Nortye in a research note on Friday, March 20th. They set an “outperform” rating and a $23.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a research note on Wednesday, January 21st. Finally, HC Wainwright upgraded shares of Adlai Nortye from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Adlai Nortye Stock Up 16.9%

The business’s 50 day moving average price is $9.17 and its 200-day moving average price is $4.56.

Adlai Nortye Company Profile

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.