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

HC Wainwright reaffirmed their buy rating on shares of Adagene (NASDAQ:ADAG) in a research note issued to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a $5.00 price target 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 Stock Up 6.7 %

Shares of NASDAQ:ADAG opened at $2.40 on Wednesday. Adagene has a 12 month low of $1.21 and a 12 month high of $4.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.61 and a current ratio of 2.50. The company’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $2.69.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Adagene stock. Catalina Capital Group LLC acquired a new stake in Adagene Inc. (NASDAQ:ADAG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 16,752 shares of the company’s stock, valued at approximately $51,000. 9.51% of the stock is owned by hedge funds and other institutional investors.

About Adagene

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.