Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) have earned an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $21.6667.

Several research firms have weighed in on ANL. Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. Oppenheimer began coverage on Adlai Nortye in a research report on Thursday. They set an “outperform” rating on the stock. JonesTrading began coverage on Adlai Nortye in a research report on Thursday, May 14th. They set a “buy” rating and a $22.00 price objective on the stock. HC Wainwright increased their price objective on Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Leerink Partners began coverage on Adlai Nortye in a research report on Friday, March 20th. They set an “outperform” rating and a $23.00 price objective on the stock.

Adlai Nortye Trading Down 3.1%

ANL stock opened at $11.00 on Thursday. The business’s fifty day moving average price is $11.49 and its two-hundred day moving average price is $6.86. Adlai Nortye has a fifty-two week low of $0.88 and a fifty-two week high of $17.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SmartHarvest Portfolios LLC increased its position in shares of Adlai Nortye by 8.5% in the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after purchasing an additional 1,279 shares during the period. Renaissance Technologies LLC bought a new position in shares of Adlai Nortye in the first quarter worth $457,000. ADAR1 Capital Management LLC bought a new position in shares of Adlai Nortye in the first quarter worth $816,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of Adlai Nortye in the first quarter worth $1,140,000. Institutional investors own 35.21% of the company’s stock.

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.