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

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has received a consensus recommendation of “Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.00.

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

Adagene Price Performance

Shares of NASDAQ:ADAG opened at $4.19 on Monday. Adagene has a 1-year low of $1.30 and a 1-year high of $4.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.07 and a quick ratio of 3.07. The business has a 50-day moving average price of $3.69 and a two-hundred day moving average price of $3.13.

Adagene (NASDAQ:ADAG) last announced 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 during the quarter. On average, equities research analysts expect that Adagene will post -0.49 earnings per share for the current year.

Institutional Trading of Adagene

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Marex Group plc bought a new stake in shares of Adagene in the 2nd quarter valued at about $47,000. Gordian Capital Singapore Pte Ltd increased its stake 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 acquiring an additional 24,342 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Adagene in the 1st quarter valued at about $135,000. SmartHarvest Portfolios LLC bought a new stake in shares of Adagene in the 4th quarter valued at about $73,000. Finally, Citadel Advisors LLC bought a new stake in shares of Adagene in the 3rd quarter valued at about $80,000. 9.51% of the stock is owned by institutional investors.

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.