ADC Therapeutics SA (NYSE:ADCT) Receives Consensus Rating of “Hold” from Analysts

ADC Therapeutics SA (NYSE:ADCT) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.00.

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lowered ADC Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $6.00 to $2.00 in a report on Thursday, June 4th. Guggenheim lowered their price target on ADC Therapeutics to $5.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Friday, July 17th. Finally, HC Wainwright lowered ADC Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, June 8th.

Institutional Trading of ADC Therapeutics

Hedge funds have recently made changes to their positions in the stock. Eventide Asset Management LLC purchased a new stake in ADC Therapeutics in the 4th quarter worth approximately $11,875,000. Nantahala Capital Management LLC boosted its stake in shares of ADC Therapeutics by 141.6% during the 4th quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock valued at $19,328,000 after buying an additional 3,209,144 shares during the period. TCG Crossover Management LLC purchased a new position in shares of ADC Therapeutics during the 3rd quarter valued at $5,561,000. Lynx1 Capital Management LP purchased a new position in shares of ADC Therapeutics during the 3rd quarter valued at $5,303,000. Finally, Prosight Management LP grew its holdings in shares of ADC Therapeutics by 13.5% during the 4th quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock valued at $29,925,000 after acquiring an additional 1,005,035 shares in the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.

ADC Therapeutics Stock Performance

Shares of NYSE:ADCT opened at $1.06 on Friday. The company has a market cap of $135.97 million, a PE ratio of -1.61 and a beta of 1.84. ADC Therapeutics has a 52 week low of $0.78 and a 52 week high of $4.98. The firm has a 50 day simple moving average of $1.17 and a 200 day simple moving average of $2.49.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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. On average, equities analysts predict that ADC Therapeutics will post -0.8 earnings per share for the current year.

ADC Therapeutics Company Profile

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.