HC Wainwright Begins Coverage on Adlai Nortye (NASDAQ:ANL)

HC Wainwright started coverage on shares of Adlai Nortye (NASDAQ:ANL) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $9.00 target price on the stock. HC Wainwright also issued estimates for Adlai Nortye’s FY2024 earnings at ($0.88) EPS, FY2025 earnings at ($0.92) EPS and FY2026 earnings at ($0.99) EPS.

Separately, Cantor Fitzgerald reaffirmed an overweight rating on shares of Adlai Nortye in a research note on Thursday, June 20th.

Adlai Nortye Stock Performance

Shares of Adlai Nortye stock opened at $2.20 on Wednesday. Adlai Nortye has a twelve month low of $2.20 and a twelve month high of $19.30. The business has a 50-day moving average price of $3.18 and a 200 day moving average price of $7.00.

Institutional Investors Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. Cantor Fitzgerald L. P. increased its position in shares of Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,310 shares of the company’s stock after acquiring an additional 22,644 shares during the period. Cantor Fitzgerald L. P. owned about 0.11% of Adlai Nortye worth $362,000 at the end of the most recent quarter. 35.21% of the stock is currently owned by institutional investors.

Adlai Nortye Company Profile

Adlai Nortye Ltd., a clinical-stage biotechnology company, focuses on the discovery and development of cancer therapies in the United States and Mainland China. Its lead product is AN2025, a pan-phosphoinositide 3-kinase inhibitor, which is in Phase III clinical trial for the treatment of recurrent or metastatic head and neck squamous cell carcinomas.