Adlai Nortye (NASDAQ:ANL) Announces Earnings Results

Key Points

• Adlai Nortye beat quarterly expectations: The company reported a loss of $0.06 per share, better than the expected loss of $0.13, while revenue of $6.53 million exceeded estimates of $4.72 million.
• Shares rose 3% to $13.25 following the earnings announcement, though trading volume was below the stock’s average. ANL has traded between $0.88 and $17.25 over the past 52 weeks.
• Analyst sentiment remains mostly positive: Five analysts rate the stock Buy and one rates it Sell, producing a Moderate Buy consensus and an average price target of $24.25.

Adlai Nortye (NASDAQ:ANL - Get Free Report) announced its earnings results on Friday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.07, FiscalAI reports. The business had revenue of $6.53 million for the quarter, compared to analysts' expectations of $4.72 million.

Adlai Nortye Price Performance

Shares of Adlai Nortye stock traded up $0.39 on Friday, hitting $13.25. The company's stock had a trading volume of 56,281 shares, compared to its average volume of 409,984. Adlai Nortye has a 52-week low of $0.88 and a 52-week high of $17.25. The firm has a fifty day moving average price of $11.37 and a 200-day moving average price of $10.75.

Analyst Upgrades and Downgrades

ANL has been the subject of several analyst reports. JonesTrading started coverage on shares of Adlai Nortye in a research note on Thursday, May 14th. They issued a "buy" rating and a $22.00 price target for the company. Cantor Fitzgerald started coverage on Adlai Nortye in a research note on Monday, June 22nd. They issued an "overweight" rating for the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Adlai Nortye in a report on Tuesday, July 14th. Oppenheimer began coverage on shares of Adlai Nortye in a research report on Thursday, May 28th. They issued an "outperform" rating and a $32.00 target price on the stock. Finally, HC Wainwright upped their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source