Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Stock Has Consensus Target Price of $29.50 According to Analysts

Key Points

• Analysts remain moderately bullish: Seven firms give Adlai Nortye a consensus “Moderate Buy” rating, with six buys and one sell. The average 12-month price target is $29.50, versus a recent share price of $15.65.
• Institutional interest has increased: Several investment firms initiated positions, and institutional investors and hedge funds now own 35.21% of the company.
• Insiders have been selling shares: Company directors and executives sold a combined 16,667 shares worth approximately $247,785 in the last quarter, including a CFO sale made to cover tax obligations tied to vested equity awards.

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $29.50.

ANL has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They set an "overweight" rating on the stock. Wall Street Zen downgraded shares of Adlai Nortye from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Adlai Nortye in a report on Tuesday, September 8th. Jefferies Financial Group initiated coverage on Adlai Nortye in a report on Thursday, September 10th. They issued a "buy" rating and a $31.00 target price for the company. Finally, Loop Capital set a $49.00 target price on Adlai Nortye in a research report on Tuesday, September 8th.

Insider Buying and Selling

In other news, Director Ping Ji sold 5,000 shares of Adlai Nortye stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $16.63, for a total value of $83,150.00. Following the transaction, the director directly owned 131,667 shares of the company's stock, valued at $2,189,622.21. The trade was a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Xiaofeng Ye sold 5,667 shares of Adlai Nortye stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total transaction of $80,754.75. Following the completion of the transaction, the chief financial officer directly owned 147,757 shares in the company, valued at $2,105,537.25. The trade was a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 16,667 shares of company stock valued at $247,785.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Braidwell LP purchased a new stake in shares of Adlai Nortye in the second quarter valued at about $9,145,000. Boone Capital Management LLC purchased a new position in Adlai Nortye during the second quarter worth about $2,971,000. Affinity Asset Advisors LLC purchased a new position in Adlai Nortye during the first quarter worth about $1,140,000. ADAR1 Capital Management LLC acquired a new stake in Adlai Nortye in the first quarter valued at about $816,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Adlai Nortye in the second quarter valued at about $1,302,000. 35.21% of the stock is currently owned by institutional investors and hedge funds.

Adlai Nortye Price Performance

Shares of Adlai Nortye stock opened at $15.65 on Wednesday. The company has a current ratio of 9.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04. Adlai Nortye has a 52 week low of $0.88 and a 52 week high of $17.25. The firm's 50 day moving average is $14.18 and its two-hundred day moving average is $12.15.

About Adlai Nortye

Adlai Nortye Ltd. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer and other serious diseases. The company's research and development activities center on oncology and immuno-oncology, with the goal of addressing unmet needs in the treatment of solid tumors.

Adlai Nortye's lead candidate is buparlisib, also known as AN2025, an oral pan-class I phosphoinositide 3-kinase (PI3K) inhibitor being developed for oncology indications, including head and neck cancer.

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