ADC Therapeutics (NYSE:ADCT) Rating Lowered to Sell at Zacks Investment Research

ADC Therapeutics (NYSE:ADCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “ADC Therapeutics SA is a late clinical-stage oncology-focused biotechnology company. It engages in development and commercialization of antibody drug conjugates for patients suffering from hematological malignancies and solid tumors. ADC Therapeutics SA is based in LAUSANNE, Switzerland. “

Several other equities analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a research note on Thursday, November 4th. Wolfe Research assumed coverage on ADC Therapeutics in a report on Monday, November 8th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on ADC Therapeutics from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, November 3rd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $42.17.

Shares of NYSE ADCT opened at $17.22 on Thursday. The company has a quick ratio of 9.45, a current ratio of 9.59 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $21.80 and its two-hundred day moving average is $24.44. The company has a market cap of $1.19 billion, a P/E ratio of -5.25 and a beta of 2.19. ADC Therapeutics has a 12 month low of $16.35 and a 12 month high of $34.48.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings results on Tuesday, November 2nd. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.01). The business had revenue of $13.15 million during the quarter, compared to analysts’ expectations of $7.74 million. During the same quarter last year, the business earned ($0.29) EPS. Sell-side analysts expect that ADC Therapeutics will post -3.36 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in shares of ADC Therapeutics by 34.5% in the second quarter. Principal Financial Group Inc. now owns 295,163 shares of the company’s stock valued at $7,187,000 after acquiring an additional 75,664 shares in the last quarter. Employees Retirement System of Texas lifted its position in shares of ADC Therapeutics by 43.7% during the second quarter. Employees Retirement System of Texas now owns 194,000 shares of the company’s stock worth $4,724,000 after acquiring an additional 59,000 shares in the last quarter. Virtus ETF Advisers LLC raised its position in shares of ADC Therapeutics by 145.4% in the second quarter. Virtus ETF Advisers LLC now owns 21,540 shares of the company’s stock worth $524,000 after buying an additional 12,764 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ADC Therapeutics in the second quarter worth $1,047,000. Finally, Banque Cantonale Vaudoise raised its position in shares of ADC Therapeutics by 410.0% in the second quarter. Banque Cantonale Vaudoise now owns 5,100 shares of the company’s stock worth $124,000 after buying an additional 4,100 shares in the last quarter. 47.58% of the stock is owned by institutional investors and hedge funds.

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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