Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives $7.67 Average Target Price from Analysts
by Tristan Rich · The Markets DailyShares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG – Get Free Report) have earned a consensus rating of “Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.6667.
ADAG has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Adagene to a “hold” rating in a research report on Saturday. Finally, Guggenheim initiated coverage on shares of Adagene in a research note on Monday, November 24th. They set a “buy” rating and a $9.00 price target on the stock.
Read Our Latest Stock Report on ADAG
Adagene Stock Performance
ADAG opened at $3.92 on Friday. Adagene has a 12 month low of $1.30 and a 12 month high of $4.58. The business has a 50-day moving average of $2.93 and a two-hundred day moving average of $2.26.
Institutional Investors Weigh In On Adagene
Institutional investors have recently added to or reduced their stakes in the company. Exome Asset Management LLC purchased a new stake in shares of Adagene during the 4th quarter valued at about $2,004,000. Fifth Lane Capital LP boosted its holdings in Adagene by 427.3% in the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock worth $274,000 after acquiring an additional 117,500 shares during the period. Gordian Capital Singapore Pte Ltd grew its position in Adagene by 101.4% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after acquiring an additional 24,342 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Adagene during the third quarter valued at approximately $80,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in shares of Adagene during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 9.51% of the company’s stock.
About Adagene
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.