Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $7.6667.

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

Institutional Investors Weigh In On Adagene

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

Adagene Price Performance

ADAG stock opened at $2.77 on Thursday. Adagene has a twelve month low of $1.30 and a twelve month high of $3.16. The company’s 50 day moving average is $1.91 and its two-hundred day moving average is $1.95.

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.