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

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has received an average rating of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.00.

Several research analysts have recently weighed in on ADAG shares. Guggenheim reiterated a “buy” rating and set a $10.00 price target on shares of Adagene in a research note on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a research note on Friday, July 17th.

Adagene Stock Up 5.7%

Shares of NASDAQ ADAG opened at $3.73 on Friday. The firm has a 50 day moving average of $3.77 and a 200 day moving average of $3.44. 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 12-month low of $1.30 and a 12-month high of $4.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Marex Group plc purchased a new position in shares of Adagene during the 2nd quarter valued at about $47,000. Renaissance Technologies LLC purchased a new stake in Adagene in the 1st quarter worth approximately $135,000. SmartHarvest Portfolios LLC purchased a new stake in Adagene in the 4th quarter worth approximately $73,000. Citadel Advisors LLC bought a new stake in Adagene during the 3rd quarter worth approximately $80,000. Finally, Fifth Lane Capital LP raised its stake in Adagene by 427.3% during the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock worth $274,000 after acquiring an additional 117,500 shares during the period. Institutional investors 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.