HC Wainwright Analysts Raise Earnings Estimates for Adagene Inc. (NASDAQ:ADAG)

Adagene Inc. (NASDAQ:ADAG) – HC Wainwright lifted their FY2024 earnings estimates for Adagene in a research note issued on Wednesday, September 18th. HC Wainwright analyst A. He now expects that the company will earn ($0.78) per share for the year, up from their previous forecast of ($0.88). HC Wainwright has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for Adagene’s current full-year earnings is ($0.68) per share. HC Wainwright also issued estimates for Adagene’s FY2025 earnings at ($1.62) EPS.

Adagene Stock Up 6.7 %

ADAG stock opened at $2.40 on Friday. The company’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.69. 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 current ratio of 2.50 and a quick ratio of 3.61.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Adagene stock. Artal Group S.A. raised its holdings in Adagene Inc. (NASDAQ:ADAG) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,020,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Artal Group S.A. owned 2.31% of Adagene worth $2,856,000 as of its most recent SEC filing. 9.51% of the stock is owned by 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.