Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives $8.00 Consensus PT from Analysts

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been given a consensus recommendation of “Buy” by the five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.00.

ADAG has been the subject of a number of analyst reports. Guggenheim reiterated a “buy” rating and set a $10.00 price target on shares of Adagene in a research report on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a research note on Friday, July 17th.

Institutional Trading of Adagene

A number of institutional investors have recently made changes to their positions in the stock. Exome Asset Management LLC acquired a new position in shares of Adagene during the fourth quarter valued at approximately $2,004,000. Fifth Lane Capital LP boosted its stake in Adagene by 427.3% during the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock valued at $274,000 after purchasing an additional 117,500 shares in the last quarter. Citadel Advisors LLC bought a new position in Adagene during the 3rd quarter valued at $80,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene during the 4th quarter valued at $73,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Adagene in the 1st quarter worth $135,000. 9.51% of the stock is owned by institutional investors and hedge funds.

Adagene Price Performance

Shares of NASDAQ ADAG opened at $3.73 on Friday. Adagene has a 12-month low of $1.30 and a 12-month high of $4.85. The stock has a 50 day simple moving average of $3.78 and a 200-day simple moving average of $3.47. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03.

Adagene Company Profile

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.