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

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

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

Institutional Trading of Adagene

A number of institutional investors have recently added to or reduced their stakes in ADAG. Marex Group plc acquired a new stake in Adagene in the second quarter valued at approximately $47,000. SmartHarvest Portfolios LLC acquired a new stake in Adagene in the fourth quarter valued at approximately $73,000. Citadel Advisors LLC acquired a new stake in Adagene in the third quarter valued at approximately $80,000. Gordian Capital Singapore Pte Ltd lifted its stake in Adagene by 101.4% in the third 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. Finally, Renaissance Technologies LLC acquired a new stake in Adagene in the first quarter valued at approximately $135,000. 9.51% of the stock is currently owned by institutional investors and hedge funds.

Adagene Price Performance

NASDAQ ADAG opened at $3.26 on Thursday. The company has a 50 day simple moving average of $3.75 and a 200-day simple moving average of $2.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.07 and a quick ratio of 3.07. Adagene has a 52-week low of $1.30 and a 52-week high of $4.75.

Adagene (NASDAQ:ADAG) last posted its quarterly earnings results on Saturday, February 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $3.84 million for the quarter. Research analysts anticipate that Adagene will post -0.49 EPS for the current fiscal 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.