Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives $8.00 Consensus PT from Analysts

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has been assigned an average recommendation of “Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.00.

ADAG has been the topic of several recent research reports. Guggenheim lifted their target price on Adagene from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research note on Monday, April 20th. Finally, Wall Street Zen raised Adagene to a “hold” rating in a research note on Saturday, March 21st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADAG. Marex Group plc bought a new stake in shares of Adagene in the 2nd quarter valued at $47,000. Gordian Capital Singapore Pte Ltd raised its stake in Adagene by 101.4% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock worth $96,000 after buying an additional 24,342 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Adagene in the first quarter valued at $135,000. SmartHarvest Portfolios LLC acquired a new position in Adagene in the fourth quarter valued at $73,000. Finally, Citadel Advisors LLC bought a new stake in Adagene during the third quarter valued at $80,000. Institutional investors own 9.51% of the company’s stock.

Adagene Price Performance

Shares of NASDAQ ADAG opened at $4.47 on Monday. The firm has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $3.22. Adagene has a 52-week low of $1.30 and a 52-week high of $4.85. 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 (NASDAQ:ADAG) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $3.84 million for the quarter. Analysts forecast that Adagene will post -0.49 earnings per share for the current year.

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.