ADC Therapeutics’ (ADCT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a research report report published on Monday morning, Benzinga reports. They currently have a $9.00 target price on the stock.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada reaffirmed an outperform rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Thursday, March 14th. Guggenheim reissued a buy rating on shares of ADC Therapeutics in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $7.50.

ADC Therapeutics Stock Down 0.7 %

ADC Therapeutics stock opened at $4.36 on Monday. ADC Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.04. The company has a market capitalization of $359.83 million, a price-to-earnings ratio of -1.49 and a beta of 1.73. The stock has a 50-day moving average price of $4.58 and a 200 day moving average price of $2.47.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Wednesday, March 13th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.56). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The firm had revenue of $16.79 million for the quarter, compared to analyst estimates of $16.58 million. Research analysts anticipate that ADC Therapeutics will post -2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ADCT. Advisor Group Holdings Inc. increased its position in shares of ADC Therapeutics by 1,270.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after buying an additional 3,011 shares in the last quarter. BlackRock Inc. increased its position in shares of ADC Therapeutics by 3.5% in the first quarter. BlackRock Inc. now owns 304,229 shares of the company’s stock valued at $4,469,000 after buying an additional 10,372 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of ADC Therapeutics by 16.9% in the first quarter. Allianz Asset Management GmbH now owns 67,810 shares of the company’s stock valued at $997,000 after buying an additional 9,780 shares in the last quarter. Employees Retirement System of Texas increased its position in shares of ADC Therapeutics by 12.2% in the first quarter. Employees Retirement System of Texas now owns 312,000 shares of the company’s stock valued at $4,583,000 after buying an additional 34,000 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of ADC Therapeutics by 446.1% in the first quarter. Walleye Capital LLC now owns 248,354 shares of the company’s stock valued at $3,648,000 after buying an additional 202,876 shares in the last quarter. 41.10% of the stock is owned by institutional investors and hedge funds.

About ADC Therapeutics

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.