Analysts Set ADC Therapeutics SA (NYSE:ADCT) PT at $7.50

Shares of ADC Therapeutics SA (NYSE:ADCT) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.50.

A number of research firms recently issued reports on ADCT. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research report on Wednesday, November 12th. 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. Royal Bank Of Canada restated an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Wall Street Zen upgraded ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a report on Wednesday, October 8th.

ADC Therapeutics Stock Up 4.3%

Shares of NYSE ADCT opened at $3.65 on Friday. ADC Therapeutics has a 52 week low of $1.05 and a 52 week high of $4.80. The business’s 50 day moving average price is $4.05 and its 200 day moving average price is $3.55. The firm has a market cap of $452.16 million, a P/E ratio of -2.52 and a beta of 1.89.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. The business had revenue of $16.43 million for the quarter, compared to analysts’ expectations of $17.08 million. As a group, research analysts expect that ADC Therapeutics will post -1.69 earnings per share for the current year.

Institutional Trading of ADC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in 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 buying an additional 22,894 shares in the last quarter. R Squared Ltd acquired a new position in ADC Therapeutics in the 3rd quarter worth about $59,000. MetLife Investment Management LLC boosted its position in ADC Therapeutics by 46.2% during the first quarter. MetLife Investment Management LLC now owns 45,487 shares of the company’s stock worth $64,000 after purchasing an additional 14,370 shares in the last quarter. Creative Planning acquired a new stake in ADC Therapeutics in the second quarter valued at approximately $96,000. Finally, Ethic Inc. acquired a new stake in ADC Therapeutics in the second quarter valued at approximately $103,000. 41.10% of the stock is owned by hedge funds and other institutional investors.

About ADC Therapeutics

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.