Adlai Nortye (NASDAQ:ANL) Shares Gap Up – Should You Buy?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $13.25, but opened at $15.00. Adlai Nortye shares last traded at $14.0650, with a volume of 622,046 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ANL. Wall Street Zen raised Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. HC Wainwright raised Adlai Nortye from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. Finally, Leerink Partners started coverage on Adlai Nortye in a research report on Friday, March 20th. They set an “outperform” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.50.

Adlai Nortye Stock Performance

The stock has a 50-day simple moving average of $9.10 and a 200 day simple moving average of $4.50.

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.