Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives $7.67 Average Price Target from Analysts

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has been assigned a consensus rating of “Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.6667.

A number of equities analysts have weighed in on ADAG shares. Guggenheim initiated coverage on shares of Adagene in a research report on Monday, November 24th. They issued a “buy” rating and a $9.00 price target for the company. Lifesci Capital upgraded shares of Adagene to a “strong-buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adagene in a research note on Wednesday, January 21st.

Institutional Trading of Adagene

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marex Group plc acquired a new position in shares of Adagene in the 2nd quarter valued at $47,000. Citadel Advisors LLC purchased a new stake in Adagene during the 3rd quarter worth approximately $80,000. Finally, Gordian Capital Singapore Pte Ltd raised its position in shares of Adagene by 101.4% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after buying an additional 24,342 shares during the last quarter. Hedge funds and other institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of NASDAQ ADAG opened at $2.75 on Thursday. The firm has a 50 day moving average of $1.95 and a 200 day moving average of $1.96. Adagene has a 12-month low of $1.30 and a 12-month high of $3.16.

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.