Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Given Average Recommendation of "Buy" by Analysts

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report) have been given an average recommendation of "Buy" by the five brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.A number of equities analysts have commented on ADAG shares. Wall Street Zen upgraded shares of Adagene to a "hold" rating in a report on Saturday, March 21st. Guggenheim boosted their target price on shares of Adagene from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adagene in a report on Wednesday, January 21st.Check Out Our Latest Analysis on AdageneHedge Funds Weigh In On AdageneLarge investors have recently added to or reduced their stakes in the company. Fifth Lane Capital LP increased its holdings in shares of Adagene by 427.3% during the fourth quarter. Fifth Lane Capital LP now owns 145,000 shares of the company's stock valued at $274,000 after acquiring an additional 117,500 shares in the last quarter. Exome Asset Management LLC acquired a new position in shares of Adagene during the fourth quarter valued at about $2,004,000. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene during the fourth quarter valued at about $73,000. Citadel Advisors LLC acquired a new position in shares of Adagene during the third quarter valued at about $80,000. Finally, Gordian Capital Singapore Pte Ltd increased its holdings in shares of 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 acquiring an additional 24,342 shares in the last quarter. 9.51% of the stock is currently owned by institutional investors. Adagene Price PerformanceNASDAQ:ADAG opened at $3.81 on Wednesday. Adagene has a 1-year low of $1.30 and a 1-year high of $4.75. The company has a 50-day moving average of $3.48 and a 200 day moving average of $2.47. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.03. Adagene (NASDAQ:ADAG - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $3.84 million for the quarter. Research analysts anticipate that Adagene will post -0.6 EPS for the current fiscal year. Adagene Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than AdageneThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Adagene Right Now?Before you consider Adagene, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adagene wasn't on the list.While Adagene currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here