Brokers Issue Forecasts for Adagene FY2029 Earnings

Adagene Inc. (NASDAQ:ADAG) – HC Wainwright issued their FY2029 earnings estimates for shares of Adagene in a research report issued on Monday, January 27th. HC Wainwright analyst A. He expects that the company will earn ($0.56) per share for the year. HC Wainwright has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for Adagene’s current full-year earnings is ($0.65) per share.

Adagene Stock Performance

Shares of NASDAQ ADAG opened at $1.85 on Tuesday. The firm has a 50 day moving average price of $2.03 and a two-hundred day moving average price of $2.39. Adagene has a 52-week low of $1.74 and a 52-week high of $3.89.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ADAG. Catalina Capital Group LLC raised its holdings in shares of Adagene by 129.2% in the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock valued at $58,000 after purchasing an additional 16,461 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in shares of Adagene in the third quarter valued at about $202,000. Finally, Exome Asset Management LLC raised its holdings in shares of Adagene by 74.1% in the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after purchasing an additional 111,749 shares during the last quarter. 9.51% of the stock is owned by 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.