Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Given Consensus Recommendation of “Buy” by Analysts

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been assigned an average rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.00.

ADAG has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of Adagene from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagene in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Adagene to a “hold” rating in a research note on Saturday, March 21st.

Adagene Stock Performance

ADAG opened at $3.50 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.07. The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $2.73. Adagene has a 1-year low of $1.30 and a 1-year high of $4.75.

Adagene (NASDAQ:ADAG) last posted its earnings results on Saturday, February 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $3.84 million for the quarter. As a group, equities research analysts expect that Adagene will post -0.49 earnings per share for the current year.

Institutional Trading of Adagene

Several institutional investors have recently made changes to their positions in the company. Marex Group plc bought a new stake in shares of Adagene in the 2nd quarter worth $47,000. Gordian Capital Singapore Pte Ltd grew 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 acquiring an additional 24,342 shares in the last quarter. Renaissance Technologies LLC bought a new position in Adagene during the first quarter valued at about $135,000. SmartHarvest Portfolios LLC bought a new position in Adagene during the fourth quarter valued at about $73,000. Finally, Citadel Advisors LLC bought a new position in Adagene during the third quarter valued at about $80,000. Institutional investors own 9.51% of the company’s stock.

Adagene Company Profile

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.