ADC Therapeutics (NYSE:ADCT) Announces Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Key Points

• ADC Therapeutics reported a quarterly EPS of ($0.50), missing the analyst consensus estimate by ($0.14), despite exceeding revenue expectations with $18.84 million.
• Following the earnings announcement, shares of ADC Therapeutics rose by 10.3%, reaching $2.96, with a market capitalization of $293.08 million.
• Several analysts have recently changed their price targets for ADC Therapeutics, with Royal Bank of Canada lowering its price objective from $8.00 to $5.00, while Guggenheim increased its target to $10.00.

ADC Therapeutics (NYSE:ADCT - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14), Zacks reports. The company had revenue of $18.84 million during the quarter, compared to analysts' expectations of $17.82 million.

ADC Therapeutics Stock Up 10.3%

Shares of ADCT stock traded up $0.28 on Tuesday, reaching $2.96. The company had a trading volume of 387,614 shares, compared to its average volume of 578,856. The stock has a market capitalization of $293.08 million, a PE ratio of -2.04 and a beta of 1.92. The business's 50-day moving average is $3.05 and its 200 day moving average is $2.13. ADC Therapeutics has a one year low of $1.05 and a one year high of $3.97.

Institutional Trading of ADC Therapeutics

An institutional investor recently bought a new position in ADC Therapeutics stock. Creative Planning purchased a new stake in ADC Therapeutics SA (NYSE:ADCT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 35,999 shares of the company's stock, valued at approximately $96,000. Institutional investors and hedge funds own 41.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADCT shares. Royal Bank Of Canada raised shares of ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and decreased their price objective for the company from $8.00 to $5.00 in a research report on Friday, June 20th. Guggenheim reissued a "buy" rating and set a $10.00 price target (up previously from $7.00) on shares of ADC Therapeutics in a research report on Friday, June 13th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADC Therapeutics has an average rating of "Buy" and an average target price of $7.75.

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.

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