Brokerages Set ADC Therapeutics SA (NYSE:ADCT) PT at $7.25

Shares of ADC Therapeutics SA (NYSE:ADCT) have earned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.25.

A number of research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, March 14th. HC Wainwright dropped their price target on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Finally, Cantor Fitzgerald assumed coverage on shares of ADC Therapeutics in a research note on Thursday, May 30th. They issued an “overweight” rating on the stock.

Insider Activity

In other news, CEO Ameet Mallik sold 29,731 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $4.48, for a total transaction of $133,194.88. Following the transaction, the chief executive officer now directly owns 1,167,348 shares of the company’s stock, valued at approximately $5,229,719.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ADC Therapeutics

A number of hedge funds have recently modified their holdings of the business. Saxony Capital Management LLC purchased a new position in ADC Therapeutics during the fourth quarter valued at $34,000. Acadian Asset Management LLC lifted its position in shares of ADC Therapeutics by 613.8% during the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock valued at $138,000 after buying an additional 134,186 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of ADC Therapeutics by 7.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after acquiring an additional 4,700 shares during the period. Sanibel Captiva Trust Company Inc. purchased a new stake in ADC Therapeutics in the 1st quarter worth approximately $462,000. Finally, Affinity Asset Advisors LLC increased its holdings in ADC Therapeutics by 83.3% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock worth $987,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Trading Up 5.5 %

Shares of ADC Therapeutics stock opened at $2.69 on Monday. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04. The firm has a market capitalization of $222.68 million, a P/E ratio of -0.98 and a beta of 1.61. The business has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $3.58.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). ADC Therapeutics had a negative net margin of 330.17% and a negative return on equity of 1,313.37%. The business had revenue of $18.05 million for the quarter, compared to analyst estimates of $18.19 million. During the same quarter in the previous year, the firm posted ($0.74) earnings per share. Analysts predict that ADC Therapeutics will post -1.92 earnings per share for the current year.

About ADC Therapeutics

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.