Brokerages Set Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Price Target at $24.25

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) have been given an average rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $24.25.

A number of research analysts have issued reports on the stock. Cantor Fitzgerald began coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They issued an “overweight” rating for the company. HC Wainwright upped their price target on Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Oppenheimer began coverage on Adlai Nortye in a research note on Thursday, May 28th. They issued an “outperform” rating and a $32.00 price objective for the company. JonesTrading began coverage on Adlai Nortye in a report on Thursday, May 14th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a research report on Tuesday, July 14th.

Adlai Nortye Price Performance

ANL stock opened at $11.53 on Friday. Adlai Nortye has a 52 week low of $0.88 and a 52 week high of $17.25. The company’s 50-day moving average price is $11.02 and its 200 day moving average price is $9.24.

Institutional Investors Weigh In On Adlai Nortye

Institutional investors and hedge funds have recently made changes to their positions in the business. Affinity Asset Advisors LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at about $1,140,000. ADAR1 Capital Management LLC purchased a new position in Adlai Nortye during the 1st quarter valued at about $816,000. Renaissance Technologies LLC acquired a new position in Adlai Nortye during the first quarter worth about $457,000. Finally, SmartHarvest Portfolios LLC raised its position in Adlai Nortye by 8.5% during the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after acquiring an additional 1,279 shares during the last quarter. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

Adlai Nortye Company Profile

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.