Adagene (NASDAQ:ADAG) Upgraded by Lifesci Capital to “Strong-Buy” Rating

Lifesci Capital upgraded shares of Adagene (NASDAQ:ADAG) to a strong-buy rating in a report published on Friday,Zacks.com reports.

ADAG has been the topic of several other research reports. Leerink Partnrs upgraded Adagene to a “strong-buy” rating in a research note on Wednesday, August 6th. HC Wainwright decreased their target price on Adagene from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a report on Wednesday, October 8th. Finally, Leerink Partners began coverage on shares of Adagene in a report on Wednesday, August 6th. They set an “outperform” rating and a $7.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Adagene has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Adagene Stock Up 1.7%

Shares of NASDAQ ADAG traded up $0.03 during mid-day trading on Friday, reaching $1.83. The company had a trading volume of 31,113 shares, compared to its average volume of 82,086. Adagene has a one year low of $1.30 and a one year high of $3.16. The business’s 50-day simple moving average is $1.92 and its 200 day simple moving average is $1.92.

Institutional Investors Weigh In On Adagene

A hedge fund recently raised its stake in Adagene stock. Gordian Capital Singapore Pte Ltd grew its stake in Adagene Inc. Sponsored ADR (NASDAQ:ADAG) by 101.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,342 shares of the company’s stock after buying an additional 24,342 shares during the period. Gordian Capital Singapore Pte Ltd owned 0.10% of Adagene worth $96,000 as of its most recent filing with the Securities and Exchange Commission. 9.51% of the stock is owned by institutional investors and hedge funds.

Adagene Company Profile

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.