ADC Therapeutics SA (NYSE:ADCT) Receives $7.75 Consensus Target Price from Analysts

ADC Therapeutics SA (NYSE:ADCT) has been given a consensus recommendation of “Buy” by the four research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $7.75.

ADCT has been the topic of a number of research reports. Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a research note on Wednesday, August 13th. Royal Bank Of Canada raised shares of ADC Therapeutics from an “outperform” rating to a “moderate buy” rating and decreased their target price for the stock from $8.00 to $5.00 in a research note on Friday, June 20th. Finally, Wall Street Zen lowered shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th.

ADC Therapeutics Trading Up 2.1%

ADCT stock opened at $3.1650 on Friday. The business’s 50-day moving average is $2.97 and its 200 day moving average is $2.21. ADC Therapeutics has a 12-month low of $1.05 and a 12-month high of $3.97. The stock has a market cap of $356.06 million, a price-to-earnings ratio of -2.02 and a beta of 1.92.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). The business had revenue of $18.84 million for the quarter, compared to analyst estimates of $17.82 million. As a group, equities analysts forecast that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Institutional Trading of ADC Therapeutics

Several institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of ADC Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,901 shares of the company’s stock valued at $46,000 after buying an additional 7,535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ADC Therapeutics by 21.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,520 shares of the company’s stock valued at $93,000 after buying an additional 8,246 shares during the period. Russell Investments Group Ltd. raised its position in shares of ADC Therapeutics by 122.6% during the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock valued at $33,000 after buying an additional 9,248 shares during the period. Geode Capital Management LLC raised its position in shares of ADC Therapeutics by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 963,109 shares of the company’s stock valued at $1,917,000 after buying an additional 9,938 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of ADC Therapeutics by 39.4% during the 4th quarter. Wells Fargo & Company MN now owns 41,832 shares of the company’s stock valued at $83,000 after buying an additional 11,834 shares during the period. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

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.