ADC Therapeutics SA (NYSE:ADCT) Receives Average Rating of “Buy” from Brokerages

ADC Therapeutics SA (NYSE:ADCT) has been given an average recommendation of “Buy” by the five analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $8.25.

Several research firms recently weighed in on ADCT. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Wednesday, August 7th. Finally, Stephens assumed coverage on shares of ADC Therapeutics in a research report on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price on the stock.

Hedge Funds Weigh In On ADC Therapeutics

A number of large investors have recently modified their holdings of the company. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of ADC Therapeutics during the 1st quarter worth about $462,000. Bank of New York Mellon Corp acquired a new stake in shares of ADC Therapeutics in the second quarter worth $648,000. Rhumbline Advisers acquired a new stake in shares of ADC Therapeutics in the second quarter worth $272,000. Acadian Asset Management LLC purchased a new position in shares of ADC Therapeutics in the 2nd quarter valued at $51,000. Finally, XTX Topco Ltd lifted its holdings in shares of ADC Therapeutics by 129.0% during the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock valued at $180,000 after acquiring an additional 32,034 shares in the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

ADC Therapeutics Price Performance

NYSE:ADCT opened at $2.93 on Friday. The firm has a market cap of $283.30 million, a PE ratio of -1.25 and a beta of 1.59. The firm has a 50 day simple moving average of $3.02 and a 200-day simple moving average of $3.29. ADC Therapeutics has a 1-year low of $0.36 and a 1-year high of $6.04.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The business had revenue of $18.46 million during the quarter, compared to the consensus estimate of $18.76 million. During the same period in the previous year, the business earned ($0.58) EPS. As a group, sell-side analysts expect that ADC Therapeutics will post -1.72 earnings per share for the current fiscal year.

ADC Therapeutics Company Profile

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.