Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Stock Has Consensus Target Price of $29.50 According to Brokerages

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $29.50.

ANL has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Adlai Nortye from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group started coverage on shares of Adlai Nortye in a research report on Thursday, September 10th. They issued a “buy” rating and a $31.00 price objective for the company. Cantor Fitzgerald assumed coverage on Adlai Nortye in a research report on Monday, June 22nd. They issued an “overweight” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Adlai Nortye in a research note on Tuesday, September 8th.

Adlai Nortye Price Performance

Shares of NASDAQ:ANL opened at $15.09 on Wednesday. Adlai Nortye has a 12 month low of $0.88 and a 12 month high of $17.25. The company’s 50-day moving average price is $14.34 and its two-hundred day moving average price is $12.27.

Insider Activity

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00. Following the transaction, the chief financial officer directly owned 153,424 shares in the company, valued at approximately $2,144,867.52. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ping Ji sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $15.99, for a total transaction of $159,900.00. Following the completion of the transaction, the director directly owned 121,453 shares in the company, valued at $1,942,033.47. This trade represents a 7.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 26,881 shares of company stock worth $411,060.

Institutional Investors Weigh In On Adlai Nortye

Institutional investors and hedge funds have recently modified their holdings of the business. Braidwell LP bought a new position in Adlai Nortye in the second quarter valued at approximately $9,145,000. Boone Capital Management LLC acquired a new position in shares of Adlai Nortye in the 2nd quarter valued at $2,971,000. Affinity Asset Advisors LLC acquired a new position in shares of Adlai Nortye in the 1st quarter valued at $1,140,000. ADAR1 Capital Management LLC bought a new position in shares of Adlai Nortye in the 1st quarter worth $816,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Adlai Nortye during the second quarter worth $1,302,000. 35.21% of the stock is owned by institutional investors.

Adlai Nortye Company Profile

Adlai Nortye Ltd. (NASDAQ: ANL) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research and development programs are centered on immuno-oncology and targeted therapies intended to address unmet medical needs.

Adlai Nortye’s pipeline has included buparlisib, an oral pan-PI3K inhibitor being studied in oncology, as well as AN0025, an investigational EP4 antagonist designed to affect pathways involved in tumor growth and immune response.