ADC Therapeutics SA (NYSE:ADCT) Receives $6.25 Consensus PT from Brokerages

ADC Therapeutics SA (NYSE:ADCT) has earned a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.25.

Several research analysts have weighed in on ADCT shares. Wall Street Zen lowered shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Royal Bank Of Canada lowered shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $6.00 to $2.00 in a research note on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Friday, July 17th. HC Wainwright downgraded ADC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, June 8th. Finally, Stephens reissued an “overweight” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a report on Thursday, June 4th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ADCT. Prosight Management LP increased its holdings in shares of ADC Therapeutics by 13.5% in the 4th quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock valued at $29,925,000 after acquiring an additional 1,005,035 shares during the last quarter. Nantahala Capital Management LLC lifted its stake in ADC Therapeutics by 141.6% during the fourth quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock worth $19,328,000 after purchasing an additional 3,209,144 shares during the last quarter. Eventide Asset Management LLC bought a new position in ADC Therapeutics during the fourth quarter worth $11,875,000. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 397,905 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in ADC Therapeutics by 2.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,640,872 shares of the company’s stock worth $5,792,000 after purchasing an additional 46,438 shares during the period. Institutional investors and hedge funds own 41.10% of the company’s stock.

ADC Therapeutics Trading Up 2.2%

ADC Therapeutics stock opened at $1.18 on Friday. The stock has a market cap of $149.45 million, a P/E ratio of -1.12 and a beta of 1.87. The stock has a 50 day moving average of $1.73 and a 200-day moving average of $3.14. ADC Therapeutics has a 52 week low of $0.78 and a 52 week high of $4.98.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $20.85 million for the quarter, compared to analyst estimates of $19.99 million. During the same period in the previous year, the business posted ($0.36) EPS. As a group, equities analysts predict that ADC Therapeutics will post -0.88 earnings per share for the current fiscal year.

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.