Adagene’s (ADAG) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Adagene (NASDAQ:ADAG) in a report released on Wednesday, Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock. HC Wainwright also issued estimates for Adagene’s FY2024 earnings at ($0.78) EPS and FY2025 earnings at ($1.62) EPS.

Adagene Trading Up 6.7 %

NASDAQ:ADAG opened at $2.40 on Wednesday. The company has a quick ratio of 3.61, a current ratio of 2.50 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $2.65 and a 200 day moving average price of $2.69. Adagene has a fifty-two week low of $1.21 and a fifty-two week high of $4.38.

Hedge Funds Weigh In On Adagene

An institutional investor recently bought a new position in Adagene stock. Catalina Capital Group LLC bought a new position in shares of Adagene Inc. (NASDAQ:ADAG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,752 shares of the company’s stock, valued at approximately $51,000. 9.51% of the stock is currently owned by hedge funds and other institutional investors.

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.