ADC Therapeutics (NYSE:ADCT) Earns Buy Rating from HC Wainwright

HC Wainwright reissued 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 price objective on the stock.

Other analysts also recently issued research reports about the company. Royal Bank of Canada reiterated an outperform rating and set a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, March 14th. Guggenheim restated a buy rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $7.50.

ADC Therapeutics Stock Up 11.0 %

ADCT stock opened at $4.93 on Monday. The firm has a market capitalization of $406.87 million, a PE ratio of -1.68 and a beta of 1.73. ADC Therapeutics has a twelve month low of $0.36 and a twelve month high of $6.04. The stock has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $2.51.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly 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). The business had revenue of $16.79 million for the quarter, compared to the consensus estimate of $16.58 million. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. On average, equities research analysts anticipate that ADC Therapeutics will post -2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Financial Services Inc bought a new position in ADC Therapeutics in the first quarter valued at about $25,000. HRT Financial LP purchased a new stake in shares of ADC Therapeutics during the first quarter worth about $31,000. Saxony Capital Management LLC purchased a new stake in shares of ADC Therapeutics during the fourth quarter worth about $34,000. Quantbot Technologies LP purchased a new stake in shares of ADC Therapeutics during the second quarter worth about $38,000. Finally, Tower Research Capital LLC TRC grew its position in shares of ADC Therapeutics by 1,253.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock worth $46,000 after purchasing an additional 8,773 shares in the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.

ADC Therapeutics Company Profile

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.