FY2024 Earnings Estimate for Adagene Issued By HC Wainwright

Adagene Inc. (NASDAQ:ADAG) – Equities research analysts at HC Wainwright boosted their FY2024 earnings estimates for Adagene in a research report issued on Monday, January 27th. HC Wainwright analyst A. He now anticipates that the company will post earnings per share of ($0.64) for the year, up from their previous estimate of ($0.78). 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. HC Wainwright also issued estimates for Adagene’s FY2025 earnings at ($0.74) EPS, FY2026 earnings at ($0.77) EPS, FY2027 earnings at ($1.33) EPS and FY2028 earnings at ($1.26) EPS.

Adagene Stock Performance

Shares of NASDAQ ADAG opened at $1.87 on Wednesday. The company has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.40. Adagene has a 1 year low of $1.74 and a 1 year high of $4.29.

Institutional Investors Weigh In On Adagene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADAG. Catalina Capital Group LLC grew its holdings in shares of Adagene by 129.2% during the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock worth $58,000 after purchasing an additional 16,461 shares during the period. Exome Asset Management LLC lifted its position in 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 buying an additional 111,749 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC purchased a new position in Adagene during the third quarter worth about $202,000. Institutional investors and hedge funds own 9.51% of the company’s stock.

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.