ADC Therapeutics SA (NYSE:ADCT) Given Average Rating of “Buy” by Analysts

ADC Therapeutics SA (NYSE:ADCT) has received a consensus recommendation of “Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.25.

A number of research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Wednesday, August 7th. Finally, Stephens initiated coverage on ADC Therapeutics in a report on Friday, November 8th. They set an “overweight” rating and a $6.00 target price for the company.

Institutional Investors Weigh In On ADC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ADCT. Sanibel Captiva Trust Company Inc. increased its position in shares of ADC Therapeutics by 9.7% during the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock worth $357,000 after purchasing an additional 10,000 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in ADC Therapeutics during the 2nd quarter valued at about $33,000. Intech Investment Management LLC purchased a new stake in ADC Therapeutics in the third quarter valued at about $41,000. Acadian Asset Management LLC acquired a new stake in ADC Therapeutics in the second quarter worth about $51,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in ADC Therapeutics by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock worth $612,000 after acquiring an additional 18,796 shares in the last quarter. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Down 6.0 %

ADCT opened at $2.65 on Friday. The stock’s fifty day moving average is $3.02 and its two-hundred day moving average is $3.27. The company has a market capitalization of $256.23 million, a P/E ratio of -1.18 and a beta of 1.59. ADC Therapeutics has a 52 week low of $0.53 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter last year, the firm earned ($0.58) earnings per share. Equities analysts anticipate that ADC Therapeutics will post -1.68 earnings per share for the current year.

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.