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

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

Several equities analysts have commented on ADAG shares. Guggenheim upped their price objective on Adagene from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Wall Street Zen raised shares of Adagene to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a report on Monday, April 20th.

Institutional Investors Weigh In On Adagene

A number of institutional investors have recently added to or reduced their stakes in ADAG. Marex Group plc purchased a new stake in Adagene during the 2nd quarter worth approximately $47,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Adagene during the 4th quarter valued at about $73,000. Citadel Advisors LLC purchased a new position in shares of Adagene in the 3rd quarter valued at about $80,000. Gordian Capital Singapore Pte Ltd raised its holdings in Adagene by 101.4% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock worth $96,000 after purchasing an additional 24,342 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Adagene in the 1st quarter worth about $135,000. Institutional investors own 9.51% of the company’s stock.

Adagene Trading Up 13.8%

ADAG opened at $4.78 on Monday. The stock has a 50-day moving average of $3.72 and a 200 day moving average of $3.18. 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 has a 12 month low of $1.30 and a 12 month high of $4.85.

Adagene (NASDAQ:ADAG) last released its quarterly earnings results on Saturday, February 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $3.84 million during the quarter. On average, sell-side analysts expect that Adagene will post -0.49 earnings per share for the current fiscal year.

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.