Adagio Medical (NASDAQ:ADGM) Upgraded at Zacks Research

Zacks Research upgraded shares of Adagio Medical (NASDAQ:ADGM) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other analysts have also recently issued reports on ADGM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. Piper Sandler started coverage on Adagio Medical in a research note on Tuesday. They set an “overweight” rating and a $3.00 target price for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Adagio Medical Trading Up 4.7%

Shares of ADGM stock opened at $1.55 on Wednesday. Adagio Medical has a fifty-two week low of $0.74 and a fifty-two week high of $2.58. The company has a 50 day moving average price of $1.12 and a 200 day moving average price of $1.13. The stock has a market capitalization of $34.43 million, a P/E ratio of -0.90 and a beta of 0.04. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.24 and a current ratio of 2.44.

Adagio Medical (NASDAQ:ADGM) last released its earnings results on Friday, March 27th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10.

Hedge Funds Weigh In On Adagio Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADGM. Armistice Capital LLC acquired a new stake in Adagio Medical during the fourth quarter worth approximately $497,000. ADAR1 Capital Management LLC acquired a new position in shares of Adagio Medical in the 4th quarter valued at $1,206,000. Adage Capital Partners GP L.L.C. grew its position in shares of Adagio Medical by 18.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock valued at $1,309,000 after buying an additional 200,000 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Adagio Medical in the 4th quarter valued at $308,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Adagio Medical during the 4th quarter worth $1,206,000. 48.08% of the stock is owned by institutional investors and hedge funds.

About Adagio Medical

Adagio Medical, Inc (NASDAQ: ADGM) is a medical device company focused on the development and commercialization of a noninvasive system for monitoring intracranial pressure (ICP). The company’s proprietary technology uses tympanic membrane displacement to provide clinicians with real-time estimates of ICP without the risks associated with invasive catheter methods. This approach is designed to improve patient safety, reduce complications, and streamline neurological monitoring in acute and critical care settings.

At the core of Adagio Medical’s pipeline is its ADGM System, which is intended for use in hospitals, emergency departments, and other clinical environments where rapid and accurate assessment of ICP is crucial.