ADC Therapeutics SA (NYSE:ADCT) Given Average Rating of “Moderate Buy” by Brokerages

ADC Therapeutics SA (NYSE:ADCT) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.50.

ADCT has been the subject of a number of research analyst reports. Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. HC Wainwright reduced their price objective on ADC Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $5.00 target price on shares of ADC Therapeutics in a report on Wednesday, December 3rd. Finally, Guggenheim reiterated a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a research report on Wednesday, November 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ADCT. Invesco Ltd. boosted its stake in ADC Therapeutics by 286.1% during the first quarter. Invesco Ltd. now owns 132,704 shares of the company’s stock worth $187,000 after buying an additional 98,335 shares during the last quarter. Nuveen LLC purchased a new position in shares of ADC Therapeutics during the 1st quarter worth $214,000. Ethic Inc. acquired a new position in shares of ADC Therapeutics during the 2nd quarter valued at about $103,000. Russell Investments Group Ltd. grew its holdings in shares of ADC Therapeutics by 136.3% in the first quarter. Russell Investments Group Ltd. now owns 39,688 shares of the company’s stock valued at $56,000 after purchasing an additional 22,894 shares during the period. Finally, Panagora Asset Management Inc. increased its position in ADC Therapeutics by 400.8% during the second quarter. Panagora Asset Management Inc. now owns 271,359 shares of the company’s stock worth $727,000 after purchasing an additional 217,173 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Stock Up 6.4%

Shares of NYSE ADCT opened at $3.91 on Friday. The company’s 50-day simple moving average is $4.11 and its 200-day simple moving average is $3.55. ADC Therapeutics has a 52-week low of $1.05 and a 52-week high of $4.80. The firm has a market cap of $483.75 million, a price-to-earnings ratio of -2.69 and a beta of 1.89.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. The company had revenue of $16.43 million for the quarter, compared to analyst estimates of $17.08 million. Equities research analysts anticipate that ADC Therapeutics will post -1.69 EPS 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.