Analysts Set Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Price Target at $7.67

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $7.6667.

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

Hedge Funds Weigh In On Adagene

Large investors have recently made changes to their positions in the business. Citadel Advisors LLC bought a new stake in Adagene during the 3rd quarter valued at approximately $80,000. Marex Group plc acquired a new position in shares of Adagene during the second quarter worth approximately $47,000. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Adagene by 101.4% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after acquiring an additional 24,342 shares during the period. Institutional investors and hedge funds own 9.51% of the company’s stock.

Adagene Trading Down 1.8%

ADAG opened at $1.65 on Friday. The stock has a 50-day moving average of $1.83 and a 200-day moving average of $1.94. Adagene has a 52-week low of $1.30 and a 52-week high of $3.16.

About Adagene

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.