ADC Therapeutics (NYSE:ADCT) Price Target Raised to $8.00 at HC Wainwright

ADC Therapeutics (NYSE:ADCT) had its target price lifted by HC Wainwright from $7.00 to $8.00 in a research note published on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $5.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.67.

ADC Therapeutics Stock Up 4.5%

NYSE:ADCT opened at $4.03 on Monday. The stock has a market cap of $512.23 million, a PE ratio of -3.36 and a beta of 1.91. ADC Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.98. The firm’s fifty day simple moving average is $4.00 and its 200-day simple moving average is $3.94.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Tuesday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.28. The company had revenue of $23.06 million during the quarter, compared to analysts’ expectations of $22.29 million. Equities analysts anticipate that ADC Therapeutics will post -1.69 earnings per share for the current year.

Hedge Funds Weigh In On ADC Therapeutics

A number of large investors have recently bought and sold shares of ADCT. ProShare Advisors LLC grew its stake in shares of ADC Therapeutics by 27.0% during the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after buying an additional 3,339 shares during the period. Russell Investments Group Ltd. raised its position in shares of ADC Therapeutics by 31.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock worth $130,000 after buying an additional 7,701 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of ADC Therapeutics by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock worth $166,000 after buying an additional 9,537 shares during the period. ExodusPoint Capital Management LP boosted its holdings in ADC Therapeutics by 23.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 56,783 shares of the company’s stock valued at $200,000 after acquiring an additional 10,842 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in ADC Therapeutics in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.