ADC Therapeutics SA (NYSE:ADCT) Receives $5.00 Consensus Target Price from Brokerages

Shares of ADC Therapeutics SA (NYSE:ADCT) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.00.

A number of research firms recently weighed in on ADCT. HC Wainwright downgraded ADC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, June 8th. Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Stephens reissued an “overweight” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Friday, July 17th.

Institutional Investors Weigh In On ADC Therapeutics

Large investors have recently bought and sold shares of the business. Opaleye Management Inc. purchased a new stake in ADC Therapeutics in the 2nd quarter worth about $749,000. AXQ Capital LP purchased a new stake in ADC Therapeutics during the 2nd quarter valued at about $29,000. Revolve Wealth Partners LLC acquired a new position in ADC Therapeutics in the 2nd quarter worth approximately $107,000. Bank of America Corp DE lifted its holdings in shares of ADC Therapeutics by 2.0% in the 1st quarter. Bank of America Corp DE now owns 1,325,017 shares of the company’s stock valued at $4,969,000 after buying an additional 26,433 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of ADC Therapeutics by 36.0% during the 1st quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock valued at $55,000 after purchasing an additional 3,894 shares in the last quarter. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Performance

NYSE:ADCT opened at $1.05 on Friday. The firm’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $2.38. The firm has a market cap of $134.69 million, a price-to-earnings ratio of -1.60 and a beta of 1.84. ADC Therapeutics has a 52 week low of $0.78 and a 52 week high of $4.98.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.11. The firm had revenue of $19.25 million during the quarter, compared to analyst estimates of $18.89 million. Sell-side analysts anticipate that ADC Therapeutics will post -0.8 EPS for the current year.

About ADC Therapeutics

ADC Therapeutics SA (NYSE: ADCT) is a biotechnology company focused on developing and commercializing antibody-drug conjugates (ADCs) for the treatment of hematologic malignancies and solid tumors. Its ADC platform combines monoclonal antibodies with highly potent cancer-killing agents, enabling targeted delivery to tumor cells.

The company’s lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed at CD19. Zynlonta is approved in the United States for adults with relapsed or refractory large B-cell lymphoma after multiple prior treatments.