Adagene Inc. (NASDAQ:ADAG) Forecasted to Earn FY2024 Earnings of ($0.78) Per Share

Adagene Inc. (NASDAQ:ADAG) – Equities researchers at HC Wainwright lifted their FY2024 earnings per share estimates for shares of Adagene in a research report issued to clients and investors on Wednesday, September 18th. HC Wainwright analyst A. He now anticipates that the company will post earnings of ($0.78) per share for the year, up from their prior estimate of ($0.88). HC Wainwright has a “Buy” rating and a $5.00 price objective 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 Performance

Shares of NASDAQ:ADAG opened at $2.40 on Friday. The business’s 50 day moving average is $2.65 and its 200 day moving average is $2.69. Adagene has a 12-month low of $1.21 and a 12-month high of $4.38. The company has a quick ratio of 3.61, a current ratio of 2.50 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

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 SEC. The fund 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.