ADC Therapeutics SA (NYSE:ADCT) – Investment analysts at Cantor Fitzgerald cut their FY2022 earnings per share (EPS) estimates for shares of ADC Therapeutics in a report issued on Tuesday, January 11th. Cantor Fitzgerald analyst B. Cheng now expects that the company will post earnings of ($3.06) per share for the year, down from their prior estimate of ($2.78).
Several other research analysts have also weighed in on the company. Wolfe Research assumed coverage on ADC Therapeutics in a research report on Monday, November 8th. They set an “outperform” rating and a $44.00 price target on the stock. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a research report on Thursday, November 4th. Zacks Investment Research lowered ADC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on ADC Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ADC Therapeutics has an average rating of “Buy” and an average target price of $42.17.
ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Tuesday, November 2nd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.01). The firm had revenue of $13.15 million during the quarter, compared to the consensus estimate of $7.74 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share.
Hedge funds have recently modified their holdings of the business. Dark Forest Capital Management LP acquired a new position in ADC Therapeutics in the 3rd quarter worth about $25,000. FORA Capital LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter worth about $27,000. Banque Cantonale Vaudoise boosted its stake in shares of ADC Therapeutics by 410.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 5,100 shares of the company’s stock worth $124,000 after acquiring an additional 4,100 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter worth about $396,000. Finally, CNA Financial Corp boosted its stake in shares of ADC Therapeutics by 8.5% during the 2nd quarter. CNA Financial Corp now owns 17,025 shares of the company’s stock worth $415,000 after acquiring an additional 1,339 shares in the last quarter. 47.58% of the stock is currently owned by institutional investors.
ADC Therapeutics Company Profile
ADC Therapeutics SA, a clinical-stage oncology-focused biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its lead product candidates are loncastuximab tesirine (ADCT-402), an ADC that is in a Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma, and Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL, as well as Phase I/II clinical trial in combination with ibrutinib for relapsed or refractory DLBCL and mantle cell lymphoma; and camidanlumab tesirine (ADCT-301), an ADC that is in a pivotal Phase II clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma and non-Hodgkin lymphoma, and Phase Ib clinical trial for selected advanced solid tumors.
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