Adagene initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Arthur He initiated coverage of Adagene with a Buy rating and $5 price target. Adagene is a clinical-stage biopharmaceutical company focused on developing nextgeneration antibody therapies to treat cancers based on its proprietary platforms, including NEObody, SAFEbody, and POWERbody, He tells investors in a research note. The analyst says the company has established a "deep and diversified pipeline" with two prioritized clinical-stage programs.