Adlai Nortye (NASDAQ:ANL) Coverage Initiated at JonesTrading

Research analysts at JonesTrading assumed coverage on shares of Adlai Nortye (NASDAQ:ANL) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $22.00 price target on the stock. JonesTrading’s price objective indicates a potential upside of 62.84% from the stock’s previous close.

Several other brokerages have also commented on ANL. Leerink Partners assumed coverage on shares of Adlai Nortye in a research report on Friday, March 20th. They issued an “outperform” rating and a $23.00 price objective for the company. HC Wainwright increased their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Adlai Nortye currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Adlai Nortye Stock Down 2.5%

Shares of Adlai Nortye stock opened at $13.51 on Thursday. The company has a 50 day moving average price of $11.04 and a 200 day moving average price of $6.26. Adlai Nortye has a 52 week low of $0.88 and a 52 week high of $17.25.

Hedge Funds Weigh In On Adlai Nortye

Several institutional investors have recently made changes to their positions in the company. SmartHarvest Portfolios LLC grew its stake in Adlai Nortye by 8.5% in the 1st quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock valued at $113,000 after acquiring an additional 1,279 shares during the period. Renaissance Technologies LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at $457,000. Finally, Affinity Asset Advisors LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at $1,140,000. 35.21% of the stock is owned by hedge funds and other institutional investors.

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.