Q1 2024 EPS Estimates for ADC Therapeutics SA Decreased by HC Wainwright (NYSE:ADCT)

ADC Therapeutics SA (NYSE:ADCT) – Equities research analysts at HC Wainwright reduced their Q1 2024 earnings per share estimates for shares of ADC Therapeutics in a research report issued on Monday, April 15th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings per share of ($0.56) for the quarter, down from their prior estimate of ($0.54). HC Wainwright has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for ADC Therapeutics’ current full-year earnings is ($2.20) per share. HC Wainwright also issued estimates for ADC Therapeutics’ Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.60) EPS and FY2024 earnings at ($2.33) EPS.

Several other analysts have also commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, March 14th. Guggenheim reiterated a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.50.

ADC Therapeutics Trading Down 0.8 %

NYSE:ADCT opened at $4.72 on Thursday. The company has a 50-day moving average of $4.63 and a 200-day moving average of $2.55. The firm has a market cap of $390.86 million, a price-to-earnings ratio of -1.61 and a beta of 1.73. ADC Therapeutics has a twelve month low of $0.36 and a twelve month high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Wednesday, March 13th. The company reported ($1.03) earnings per share (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.

Hedge Funds Weigh In On ADC Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted 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 worth $47,000 after buying an additional 3,011 shares during the period. Quantbot Technologies LP acquired a new stake in ADC Therapeutics during the 2nd quarter worth about $38,000. Tower Research Capital LLC TRC grew its stake in ADC Therapeutics by 1,253.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after acquiring an additional 8,773 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ADC Therapeutics in the 3rd quarter valued at about $56,000. Finally, Prospera Financial Services Inc acquired a new position in shares of ADC Therapeutics in the 1st quarter valued at about $25,000. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

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.