ADC Therapeutics (NYSE:ADCT) Issues Quarterly Earnings Results, Beats Estimates By $0.54 EPS

ADC Therapeutics (NYSE:ADCT – Get Rating) released its earnings results on Monday. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.54, MarketWatch Earnings reports. During the same period in the previous year, the company earned ($0.67) EPS.

Shares of NYSE:ADCT opened at $7.81 on Tuesday. The company has a market cap of $538.05 million, a P/E ratio of -2.60 and a beta of 1.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 6.95 and a current ratio of 7.10. ADC Therapeutics has a one year low of $7.41 and a one year high of $32.00. The business’s 50-day simple moving average is $13.48 and its 200 day simple moving average is $18.06.

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on ADC Therapeutics from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. HC Wainwright cut their price objective on ADC Therapeutics from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Finally, Zacks Investment Research upgraded ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, January 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, ADC Therapeutics has an average rating of “Buy” and an average target price of $39.17.

Several large investors have recently made changes to their positions in ADCT. Advisor Group Holdings Inc. raised its holdings in shares of ADC Therapeutics by 1,270.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after buying an additional 3,011 shares during the period. Citadel Advisors LLC raised its holdings in shares of ADC Therapeutics by 57.3% during the 3rd quarter. Citadel Advisors LLC now owns 19,346 shares of the company’s stock valued at $525,000 after buying an additional 7,047 shares during the period. Millennium Management LLC acquired a new stake in ADC Therapeutics during the 4th quarter valued at approximately $815,000. Allianz Asset Management GmbH grew its stake in ADC Therapeutics by 20.5% during the 4th quarter. Allianz Asset Management GmbH now owns 58,030 shares of the company’s stock valued at $1,177,000 after purchasing an additional 9,860 shares in the last quarter. Finally, Invesco Ltd. grew its stake in ADC Therapeutics by 8.5% during the 4th quarter. Invesco Ltd. now owns 242,643 shares of the company’s stock valued at $4,902,000 after purchasing an additional 19,045 shares in the last quarter. Institutional investors and hedge funds own 49.06% of the company’s stock.

About ADC Therapeutics (Get Rating)

ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL in second-line transplant-ineligible patients; and Phase I clinical trial for treatment of relapsed or refractory non-hodgkin lymphoma (NHL).

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