ADC Therapeutics SA (NYSE:ADCT) Receives $7.75 Consensus PT from Brokerages

ADC Therapeutics SA (NYSE:ADCT) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.75.

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a report on Saturday, September 27th. Finally, Royal Bank Of Canada raised shares of ADC Therapeutics from an “outperform” rating to a “moderate buy” rating and decreased their price target for the stock from $8.00 to $5.00 in a report on Friday, June 20th.

ADC Therapeutics Stock Down 3.0%

NYSE:ADCT opened at $4.30 on Friday. The firm has a 50 day moving average of $3.29 and a 200 day moving average of $2.62. The stock has a market capitalization of $483.19 million, a price-to-earnings ratio of -2.74 and a beta of 1.99. ADC Therapeutics has a 52 week low of $1.05 and a 52 week high of $4.67.

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

Institutional Trading of ADC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ADCT. Nantahala Capital Management LLC acquired a new stake in shares of ADC Therapeutics in the second quarter worth $6,074,000. Bank of America Corp DE increased its stake in shares of ADC Therapeutics by 22.1% in the second quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock worth $5,893,000 after acquiring an additional 397,905 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of ADC Therapeutics in the second quarter worth $959,000. Stempoint Capital LP acquired a new stake in shares of ADC Therapeutics in the second quarter worth $759,000. Finally, Panagora Asset Management Inc. increased its stake in shares of ADC Therapeutics by 400.8% in the second quarter. Panagora Asset Management Inc. now owns 271,359 shares of the company’s stock worth $727,000 after acquiring an additional 217,173 shares during the period. Institutional investors and hedge funds own 41.10% of the company’s stock.

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.