ADC Therapeutics SA (NYSE:ADCT) Receives Consensus Recommendation of “Buy” from Analysts

ADC Therapeutics SA (NYSE:ADCT) has been assigned a consensus recommendation of “Buy” from the four analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.75.

A number of research analysts have weighed in on ADCT shares. Wall Street Zen downgraded ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada upgraded ADC Therapeutics from an “outperform” rating to a “moderate buy” rating and decreased their price target for the company from $8.00 to $5.00 in a research note on Friday, June 20th. Finally, Guggenheim restated a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research note on Wednesday.

ADC Therapeutics Stock Down 1.6%

ADCT stock opened at $3.14 on Friday. The business has a 50 day moving average price of $3.02 and a two-hundred day moving average price of $2.16. The company has a market cap of $353.25 million, a price-to-earnings ratio of -2.00 and a beta of 1.92. ADC Therapeutics has a twelve month low of $1.05 and a twelve month high of $3.97.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). The business had revenue of $18.84 million during the quarter, compared to analysts’ expectations of $17.82 million. On average, equities research analysts anticipate that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new stake in ADC Therapeutics during the 1st quarter worth approximately $25,000. Atria Wealth Solutions Inc. acquired a new stake in ADC Therapeutics during the 1st quarter worth approximately $28,000. Two Sigma Securities LLC acquired a new stake in ADC Therapeutics during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. lifted its holdings in ADC Therapeutics by 122.6% during the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock worth $33,000 after purchasing an additional 9,248 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in ADC Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,901 shares of the company’s stock worth $46,000 after purchasing an additional 7,535 shares during the last quarter. 41.10% of the stock is owned by institutional investors.

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.