Adagene (NASDAQ:ADAG - Get Free Report) had its target price increased by equities research analysts at Guggenheim from $9.00 to $10.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's target price indicates a potential upside of 150.63% from the company's current price.
A number of other equities analysts have also commented on ADAG. Wall Street Zen raised Adagene to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Adagene in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Adagene has an average rating of "Buy" and a consensus price target of $8.00.
Read Our Latest Research Report on Adagene
Adagene Stock Performance
Shares of ADAG opened at $3.99 on Monday. The firm has a 50 day simple moving average of $3.30 and a two-hundred day simple moving average of $2.37. Adagene has a one year low of $1.30 and a one year high of $4.72.
Adagene (NASDAQ:ADAG - Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.24. The company had revenue of $3.84 million during the quarter, compared to the consensus estimate of $17.50 million. On average, analysts expect that Adagene will post -0.6 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Exome Asset Management LLC purchased a new position in Adagene during the fourth quarter worth about $2,004,000. Fifth Lane Capital LP lifted its position in shares of Adagene by 427.3% during the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company's stock worth $274,000 after buying an additional 117,500 shares in the last quarter. Gordian Capital Singapore Pte Ltd boosted its stake in shares of 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 buying an additional 24,342 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Adagene in the third quarter valued at approximately $80,000. Finally, SmartHarvest Portfolios LLC bought a new position in shares of Adagene in the fourth quarter valued at approximately $73,000. 9.51% of the stock is currently owned by institutional investors and hedge funds.
Adagene Company Profile
(
Get Free Report)
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.
Further Reading
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