Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives Consensus Rating of “Buy” from Analysts

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $8.00.

Several analysts have weighed in on the stock. Guggenheim lifted their price objective on shares of Adagene from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagene in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Adagene to a “hold” rating in a research report on Saturday, March 21st.

Adagene Trading Up 2.1%

Adagene stock opened at $3.46 on Thursday. Adagene has a 12 month low of $1.30 and a 12 month high of $4.75. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $3.79 and its 200-day moving average is $2.91.

Adagene (NASDAQ:ADAG) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $3.84 million for the quarter. As a group, sell-side analysts expect that Adagene will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Adagene

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marex Group plc acquired a new position in shares of Adagene in the 2nd quarter valued at approximately $47,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene in the 4th quarter valued at approximately $73,000. Citadel Advisors LLC acquired a new position in shares of Adagene in the 3rd quarter valued at approximately $80,000. Gordian Capital Singapore Pte Ltd raised its position in shares of Adagene by 101.4% in the 3rd 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 in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Adagene in the 1st quarter valued at approximately $135,000. 9.51% of the stock is currently owned by institutional investors and hedge funds.

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.