Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Adagene Inc. (NASDAQ:ADAG) has a consensus analyst rating of “Buy” from five covering analysts, with an average 12-month price target of $8.00.
• Recent analyst actions were mixed: Guggenheim reaffirmed a Buy rating with a $10.00 price target, while Weiss Ratings reiterated a Sell (D-) rating.
• Shares opened at $3.37, and the company is a clinical-stage biopharmaceutical firm focused on antibody-based cancer and immune-related therapies, with institutional investors owning 9.51% of the stock.

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report) have been given a consensus recommendation of "Buy" by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $8.00.

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

Hedge Funds Weigh In On Adagene

Institutional investors and hedge funds have recently bought and sold shares of the company. Marex Group plc acquired a new stake in shares of Adagene during the second quarter valued at about $47,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene in the fourth quarter valued at approximately $73,000. Citadel Advisors LLC acquired a new position in shares of Adagene in the third quarter valued at approximately $80,000. Renaissance Technologies LLC bought a new position in Adagene in the 1st quarter valued at approximately $135,000. Finally, Fifth Lane Capital LP raised 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 valued at $274,000 after buying an additional 117,500 shares during the last quarter. Institutional investors and hedge funds own 9.51% of the company's stock.

Adagene Price Performance

ADAG stock opened at $3.37 on Friday. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $3.77 and a 200 day simple moving average of $3.40. Adagene has a 1 year low of $1.30 and a 1 year high of $4.85.

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.

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