ADC Therapeutics (NYSE:ADCT) Issues Earnings Results, Beats Estimates By $0.06 EPS

ADC Therapeutics (NYSE:ADCT) announced its quarterly earnings results on Thursday. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.06, Zacks reports. The company had revenue of $19.00 million during the quarter, compared to analysts’ expectations of $19.01 million.

ADC Therapeutics Trading Down 3.0 %

Shares of ADCT traded down $0.05 during mid-day trading on Friday, hitting $1.48. The company’s stock had a trading volume of 106,728 shares, compared to its average volume of 626,474. ADC Therapeutics has a 1-year low of $1.39 and a 1-year high of $5.38. The firm has a market capitalization of $142.62 million, a P/E ratio of -0.62 and a beta of 1.51. The firm has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $2.27.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Monday, January 6th. Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a report on Thursday, December 12th. Finally, Stephens raised their price objective on shares of ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $8.50.

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.