ADC Therapeutics (NYSE:ADCT) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

ADC Therapeutics (NYSE:ADCT) released its quarterly earnings results on Monday. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.05, RTT News reports. The company had revenue of $21.72 million during the quarter, compared to analysts’ expectations of $18.70 million. During the same period in the prior year, the firm earned ($0.30) EPS.

ADC Therapeutics Stock Performance

Shares of ADCT opened at $1.47 on Wednesday. The stock has a market cap of $187.04 million, a PE ratio of -2.84 and a beta of 1.82. ADC Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $4.98. The firm’s 50-day simple moving average is $1.38 and its two-hundred day simple moving average is $2.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADCT shares. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a report on Thursday, October 15th. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Guggenheim decreased their target price on shares of ADC Therapeutics to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.00.

ADC Therapeutics Company Profile

ADC Therapeutics SA (NYSE: ADCT) is a biotechnology company focused on developing and commercializing antibody-drug conjugates (ADCs) for the treatment of cancer. Its ADC platform is designed to combine monoclonal antibodies that target specific tumor-associated antigens with potent cytotoxic payloads, with the goal of selectively delivering treatment to cancer cells while limiting exposure to healthy tissue. The company’s lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed against the CD19 antigen.