With the S&P/ASX 200 Index (ASX: XJO) 7.2% higher in the same period, Coles shares have outperformed the broader market.

Not to mention the 64 cents per share in dividends the company has paid over the last 12 months.

But after this outperformance, is it time to buy, sell, or hold this ASX supermarket giant? Let's see what the experts think.

Coles shares: What's the verdict?

According to CommSec, the consensus rates Coles shares as a hold, with five buys, nine holds, and two sells. So, while some brokers remain bullish, others are erring on the side of caution.

But in terms of the rigid 'buy or sell' scenario in question here, the weight is biased toward brokers rating the stock as a buy. Although we can't ignore those bearish on the stock either.

First, let's look at the buys.

Citi is one bullish broker. It recently reiterated its buy rating on Coles shares, setting a price target of $21.

The broker forecasts fully franked dividends of 73 cents per share in FY25 and 85.5 cents in FY26.

Macquarie also remains bullish on Coles, retaining its buy rating with a price target of $20.20 in a recent note.

It liked Coles' FY24 performance, especially its margins. Macquarie believes Coles' cost-saving initiatives set the company up for continued growth in FY25.

Meanwhile, UBS has a buy rating on the supermarket giant with a price target of $19.50, citing steady dividend growth and strong fundamentals as key reasons to back the stock.

What about the other side of the coin?

Coles has long been seen as a defensive stock, benefiting from its stable, recession-proof earnings. But despite its solid performance this year, not all analysts are convinced.

Goldman Sachs, for instance, holds a neutral rating on Coles shares with an $18 price target. If correct, this implies a small amount of downside from current levels.

The risk is those such as Goldman are correct, in that the market has got ahead of the stock and that Coles shares could be overvalued.

They currently trade on a price-to-earnings ratio (P/E) of 22 times, slightly ahead of the broad market's valuation of 20 times earnings.

In that regard, investorbuying Coles shares might expect it to outperform the market – but they are paying a premium for this return. Food for thought.

Foolish takeaway

Coles shares have been a standout performer in 2024, and some brokers remain optimistic about their future prospects. Others, however, are on the fence.

The Coles share price is up 21.4% in the past year.

The post Up 19% in 2024, is it time to buy or sell Coles shares? appeared first on The Motley Fool Australia.

However, at the time of writing, the AdAlta share price has retreated slightly to 20 cents, up 14.29%. Also, it's worth noting that the AdAlta share price reached a 52-week high of 26.5 cents in the opening minutes of trade.

Quick take on AdAlta

Established in 2006, AdAlta is a clinical-stage biotechnology company. The company's focus is on researching and developing protein-based therapies. Thus, AdAlta utilises a range of unique compounds, known as i-bodies, to create a pipeline of drugs to treat serious diseases. This includes idiopathic pulmonary fibrosis (IPF) and other human fibrotic diseases.

What did AdAlta announce?

The AdAlta share price is racing higher as investors are fighting to get a parcel of its shares.

In this morning's release, AdAlta advised it has been granted Orphan Drug Designation (ODD) from the United States Food and Drug Administration (FDA). In particular, this is for its lead product candidate AD-214.

The Orphan Drug Act, created by the FDA, aims to motivate biopharmaceutical companies in developing potential medicines for rare or 'orphan' diseases. The ODD provides preferential treatment that enhances a company's standing with the agency. It is estimated that rare and orphan diseases affect around 200,000 people in the United States alone.

The welcomed decision enables the company to receive special benefits of achieving incentivised targets. This includes eligibility for seven years of market exclusivity after FDA approval and discounted tax credits of 50% of drug testing costs. Benefits also include additional protocol assistance, reduced review times, and specific marketing authorisation application fees waived.

This follows the company's previous ODD for AD-114, the predecessor molecule to AD-214.

AdAlta noted that receiving ODD will bring extra economic value for AD-214. This will flow onto its future commercial partners.

About the AdAlta share price

In the past year, the company's shares have accelerated to give investors a gain of more than 180%. In March, the AdAlta share price traded for as little as 4 cents, before gradually increasing over the 11 months. However today, the biotech's shares reached a 52-week high of 26.5 cents.

Based on the current share price, AdAlta commands a market capitalisation of roughly $51 million.

The post AdAlta (ASX:1AD) share price rockets 31% on United States FDA update appeared first on The Motley Fool Australia.