FY2025 Earnings Estimate for Adagene Issued By HC Wainwright

Adagene Inc. (NASDAQ:ADAG - Free Report) - Analysts at HC Wainwright increased their FY2025 EPS estimates for Adagene in a research note issued to investors on Thursday, April 3rd. HC Wainwright analyst A. He now anticipates that the company will post earnings of ($0.67) per share for the year, up from their prior forecast of ($0.74). HC Wainwright currently has a "Buy" rating and a $8.00 target price on the stock. The consensus estimate for Adagene's current full-year earnings is ($0.60) per share. HC Wainwright also issued estimates for Adagene's FY2026 earnings at ($0.70) EPS, FY2027 earnings at ($1.22) EPS, FY2028 earnings at ($1.16) EPS and FY2029 earnings at ($0.50) EPS.

Separately, Morgan Stanley lowered Adagene from an "overweight" rating to an "equal weight" rating in a research note on Friday, January 31st.

Adagene Price Performance

NASDAQ:ADAG traded up $0.05 during trading hours on Monday, hitting $1.53. 5,589 shares of the stock were exchanged, compared to its average volume of 60,428. The firm's fifty day moving average price is $1.79 and its 200 day moving average price is $2.08. Adagene has a 52-week low of $1.33 and a 52-week high of $3.58.

Hedge Funds Weigh In On Adagene

Several hedge funds and other institutional investors have recently modified their holdings of the business. Exome Asset Management LLC raised its holdings in Adagene by 74.1% in the 3rd quarter. Exome Asset Management LLC now owns 262,625 shares of the company's stock valued at $583,000 after acquiring an additional 111,749 shares during the last quarter. Catalina Capital Group LLC grew its position in shares of Adagene by 129.2% in the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company's stock valued at $58,000 after purchasing an additional 16,461 shares in the last quarter. Mill Creek Capital Advisors LLC increased its holdings in shares of Adagene by 119.6% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company's stock valued at $397,000 after purchasing an additional 108,702 shares during the last quarter. General Atlantic L.P. lifted its position in Adagene by 1,349.2% during the fourth quarter. General Atlantic L.P. now owns 3,825,952 shares of the company's stock worth $7,614,000 after buying an additional 3,561,952 shares in the last quarter. Finally, Kamunting Street Capital Management L.P. acquired a new position in Adagene during the fourth quarter worth $251,000. 9.51% of the stock is owned by hedge funds and other institutional investors.

About Adagene

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.