Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Receives $24.25 Average PT from Analysts

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.25.

Several equities research analysts have issued reports on ANL shares. HC Wainwright boosted their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 20th. JonesTrading initiated coverage on shares of Adlai Nortye in a research report on Thursday, May 14th. They set a “buy” rating and a $22.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They set an “overweight” rating for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a report on Tuesday, July 14th. Finally, Oppenheimer began coverage on Adlai Nortye in a research note on Thursday, May 28th. They issued an “outperform” rating and a $32.00 price objective on the stock.

Institutional Investors Weigh In On Adlai Nortye

Hedge funds have recently made changes to their positions in the company. SmartHarvest Portfolios LLC grew its position in shares of Adlai Nortye by 8.5% during the 1st quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after buying an additional 1,279 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Adlai Nortye in the first quarter valued at about $457,000. Affinity Asset Advisors LLC purchased a new stake in Adlai Nortye in the first quarter worth about $1,140,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Adlai Nortye in the first quarter worth about $816,000. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

Adlai Nortye Stock Up 8.5%

ANL stock opened at $13.00 on Friday. Adlai Nortye has a 12 month low of $0.88 and a 12 month high of $17.25. The firm’s 50-day moving average is $10.99 and its 200 day moving average is $9.39.

Adlai Nortye Company Profile

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.