Adlai Nortye (NASDAQ:ANL) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Adlai Nortye (NASDAQ:ANL) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other research analysts have also weighed in on ANL. Oppenheimer began coverage on Adlai Nortye in a research report on Thursday, May 28th. They set an “outperform” rating and a $32.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a report on Tuesday, July 14th. JonesTrading initiated coverage on shares of Adlai Nortye in a research note on Thursday, May 14th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They set an “overweight” rating on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.25.

Adlai Nortye Stock Down 0.1%

Shares of NASDAQ ANL opened at $13.70 on Friday. The stock has a 50 day moving average price of $11.78 and a 200 day moving average price of $11.06. Adlai Nortye has a 52 week low of $0.88 and a 52 week high of $17.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.55 and a quick ratio of 0.65.

Hedge Funds Weigh In On Adlai Nortye

Institutional investors and hedge funds have recently modified their holdings of the stock. SmartHarvest Portfolios LLC lifted its stake in shares of Adlai Nortye by 8.5% during the 1st quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after buying an additional 1,279 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Adlai Nortye in the 1st quarter valued at about $457,000. Seven Fleet Capital Management LP acquired a new position in Adlai Nortye in the 2nd quarter valued at about $1,302,000. ADAR1 Capital Management LLC acquired a new position in Adlai Nortye in the 1st quarter valued at about $816,000. Finally, Affinity Asset Advisors LLC bought a new position in Adlai Nortye in the 1st quarter valued at about $1,140,000. 35.21% of the stock is currently owned by institutional investors and hedge funds.

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.