ADC Therapeutics SA (NYSE:ADCT) Receives $7.50 Average Target Price from Analysts

Shares of ADC Therapeutics SA (NYSE:ADCT) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $7.50.

Several brokerages have recently issued reports on ADCT. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of ADC Therapeutics in a report on Monday, April 15th. Finally, Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th.

ADC Therapeutics Stock Performance

ADC Therapeutics stock opened at $4.34 on Monday. ADC Therapeutics has a one year low of $0.36 and a one year high of $6.04. The stock has a market cap of $359.40 million, a PE ratio of -1.48 and a beta of 1.73. The stock has a 50-day moving average of $4.62 and a two-hundred day moving average of $2.71.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $16.58 million. As a group, sell-side analysts predict that ADC Therapeutics will post -2.2 EPS for the current fiscal year.

Institutional Trading of ADC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. grew its holdings in ADC Therapeutics by 7.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after purchasing an additional 4,700 shares during the period. Saxony Capital Management LLC acquired a new stake in shares of ADC Therapeutics in the fourth quarter worth approximately $34,000. Redmile Group LLC boosted its stake in shares of ADC Therapeutics by 0.9% in the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock worth $12,718,000 after acquiring an additional 128,110 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of ADC Therapeutics by 613.8% in the third quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after acquiring an additional 134,186 shares during the last quarter. Finally, Affinity Asset Advisors LLC boosted its stake in shares of ADC Therapeutics by 83.3% in the third quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock worth $987,000 after acquiring an additional 500,000 shares during 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.