Brokerages Set ADC Therapeutics SA (NYSE:ADCT) Price Target at $7.50

Shares of ADC Therapeutics SA (NYSE:ADCT) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.50.

Several brokerages have commented on ADCT. Royal Bank of Canada reiterated an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research note on Thursday, March 14th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of ADC Therapeutics in a report on Monday, April 15th. Finally, Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Saxony Capital Management LLC acquired a new position in ADC Therapeutics in the 4th quarter valued at about $34,000. Acadian Asset Management LLC raised its stake in ADC Therapeutics by 613.8% in the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock valued at $138,000 after purchasing an additional 134,186 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in ADC Therapeutics by 7.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after purchasing an additional 4,700 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in ADC Therapeutics by 83.3% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $987,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Redmile Group LLC raised its stake in ADC Therapeutics by 0.9% in the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after purchasing an additional 128,110 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT opened at $4.78 on Monday. The firm’s 50-day moving average is $4.65 and its two-hundred day moving average is $2.65. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The firm has a market capitalization of $395.42 million, a PE ratio of -1.63 and a beta of 1.73.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Wednesday, March 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.56). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The firm had revenue of $16.79 million for the quarter, compared to analysts’ expectations of $16.58 million. Analysts expect that ADC Therapeutics will post -2.2 EPS for the current fiscal 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.