ADC Therapeutics SA (NYSE:ADCT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ADC Therapeutics SA (NYSE:ADCT) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, 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 1 year price target among analysts that have covered the stock in the last year is $7.50.

ADCT has been the topic of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $5.00 target price on shares of ADC Therapeutics in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a report on Wednesday, January 21st. Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. HC Wainwright decreased their target price on ADC Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Finally, Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research report on Wednesday, November 12th.

Hedge Funds Weigh In On ADC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC acquired a new position in shares of ADC Therapeutics in the 2nd quarter worth approximately $959,000. Ethic Inc. bought a new position in ADC Therapeutics in the 2nd quarter valued at $103,000. Stempoint Capital LP acquired a new position in ADC Therapeutics in the second quarter worth $759,000. Panagora Asset Management Inc. grew its holdings in shares of ADC Therapeutics by 400.8% during the second quarter. Panagora Asset Management Inc. now owns 271,359 shares of the company’s stock worth $727,000 after purchasing an additional 217,173 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of ADC Therapeutics in the fourth quarter valued at $371,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Trading Up 2.3%

Shares of ADC Therapeutics stock opened at $4.00 on Friday. The company has a market cap of $495.52 million, a P/E ratio of -2.76 and a beta of 1.93. The stock has a 50-day moving average price of $3.73 and a 200 day moving average price of $3.68. ADC Therapeutics has a 1 year low of $1.05 and a 1 year high of $4.80.

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

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.