Brokerages Set Adagene Inc. Sponsored ADR (NASDAQ:ADAG) PT at $8.00

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has earned a consensus recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.00.

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

Adagene Price Performance

NASDAQ ADAG opened at $4.47 on Monday. The company’s fifty day moving average is $3.75 and its two-hundred day moving average is $3.21. Adagene has a 52-week low of $1.30 and a 52-week high of $4.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.07.

Adagene (NASDAQ:ADAG) last announced its quarterly earnings data on Saturday, February 14th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $3.84 million for the quarter. On average, sell-side analysts anticipate that Adagene will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marex Group plc acquired a new stake in Adagene during the second quarter worth $47,000. Gordian Capital Singapore Pte Ltd raised 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 buying an additional 24,342 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Adagene during the 3rd quarter worth about $80,000. SmartHarvest Portfolios LLC bought a new position in shares of Adagene during the 4th quarter worth about $73,000. Finally, Exome Asset Management LLC acquired a new stake in shares of Adagene during the 4th quarter valued at about $2,004,000. 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.