Adlai Nortye (NASDAQ:ANL) Shares Gap Up – Here’s Why

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) gapped up prior to trading on Thursday . The stock had previously closed at $13.25, but opened at $15.00. Adlai Nortye shares last traded at $14.0650, with a volume of 622,046 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANL. HC Wainwright upgraded Adlai Nortye from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, February 13th. Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. Leerink Partners assumed coverage on Adlai Nortye in a research report on Friday, March 20th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.50.

Adlai Nortye Stock Performance

The stock has a 50 day moving average price of $9.29 and a 200-day moving average price of $4.66.

Adlai Nortye Company Profile

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.