Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.25.

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

Adlai Nortye Trading Up 6.8%

NASDAQ ANL opened at $11.35 on Friday. The business’s fifty day moving average is $11.05 and its 200 day moving average is $9.17. Adlai Nortye has a fifty-two week low of $0.88 and a fifty-two week high of $17.25.

Institutional Trading of Adlai Nortye

Several institutional investors and hedge funds have recently modified their holdings of the company. SmartHarvest Portfolios LLC lifted its stake 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 valued at $113,000 after buying an additional 1,279 shares in the last quarter. Renaissance Technologies LLC bought a new position in Adlai Nortye in the 1st quarter worth $457,000. ADAR1 Capital Management LLC purchased a new stake in Adlai Nortye in the 1st quarter worth $816,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Adlai Nortye in the 1st quarter worth $1,140,000. 35.21% of the stock is currently owned by institutional investors.

About Adlai Nortye

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.