Adagene Inc (ADAG) PT Raised to $8 at H.C. Wainwright

H.C. Wainwright analyst Arthur He raised the price target on Adagene Inc (NASDAQ: ADAG) to $8.00 (from $5.00) while maintaining a Buy rating.

The analyst commented: "On January 25, Adagene presented positive data from its ongoing Phase 1/2 study with ADG126 at the 2025 American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCO-GI) and hosted a virtual KOL event. We believe the ASCO-GI data further solidifies ADG126’s therapeutical potential in metastatic microsatellite stable colorectal cancer (MSS-CRC). The company is evaluating ADG126, a human IgG1, masked anti-CTLA-4 monoclonal antibody (mAb) based on its proprietary SAFEbody platform, in combination with pembrolizumab, an anti-PD-1 antibody marketed as Keytruda by Merck, in refractory MSS-CRC patients with no liver metastases (NLM). We maintain our Buy rating on ADAG and raise its 12-month price target to $8 per share, from $5."

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