Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Receives $7.67 Consensus Price Target from Brokerages

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.6667.

Several research analysts have issued reports on ADAG shares. Lifesci Capital upgraded shares of Adagene to a “strong-buy” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adagene in a research report on Wednesday, October 8th. Finally, Guggenheim started coverage on Adagene in a research report on Monday, November 24th. They issued a “buy” rating and a $9.00 price target for the company.

Adagene Stock Up 2.2%

Shares of ADAG opened at $1.82 on Friday. The firm’s 50 day moving average is $1.84 and its 200-day moving average is $1.94. Adagene has a 12-month low of $1.30 and a 12-month high of $3.16.

Institutional Investors Weigh In On Adagene

Several hedge funds have recently made changes to their positions in ADAG. Marex Group plc acquired a new stake in Adagene during the 2nd quarter valued at $47,000. Gordian Capital Singapore Pte Ltd raised its position in Adagene by 101.4% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after buying an additional 24,342 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Adagene during the 3rd quarter worth about $80,000. Hedge funds and other 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.