ADC Therapeutics (NYSE:ADCT) Stock Rating Upgraded by Royal Bank Of Canada

ADC Therapeutics (NYSE:ADCT - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada from an "outperform" rating to a "moderate buy" rating in a report issued on Friday, Marketbeat.com reports. The firm currently has a $5.00 target price on the stock, down from their previous target price of $8.00. Royal Bank Of Canada's price objective suggests a potential upside of 86.57% from the company's current price.

A number of other equities analysts have also issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating on shares of ADC Therapeutics in a report on Friday, March 7th. Stephens raised their price target on ADC Therapeutics from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Guggenheim reissued a "buy" rating and set a $10.00 price target (up previously from $7.00) on shares of ADC Therapeutics in a report on Friday, June 13th. Finally, HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Monday, March 31st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $7.75.

ADC Therapeutics Price Performance

Shares of ADCT stock traded down $0.09 during trading hours on Friday, hitting $2.68. The stock had a trading volume of 652,280 shares, compared to its average volume of 624,157. The firm has a market capitalization of $265.80 million, a PE ratio of -1.85 and a beta of 1.95. The stock's 50 day moving average is $2.23 and its 200 day moving average is $1.90. ADC Therapeutics has a twelve month low of $1.05 and a twelve month high of $4.13.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.02. The business had revenue of $23.03 million for the quarter, compared to analyst estimates of $17.71 million. As a group, equities analysts predict that ADC Therapeutics will post -1.69 earnings per share for the current year.

Hedge Funds Weigh In On ADC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kazazian Asset Management LLC purchased a new stake in shares of ADC Therapeutics in the fourth quarter valued at approximately $26,000. Two Sigma Securities LLC acquired a new stake in ADC Therapeutics in the fourth quarter valued at $30,000. Russell Investments Group Ltd. lifted its holdings in ADC Therapeutics by 122.6% in the fourth quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company's stock valued at $33,000 after acquiring an additional 9,248 shares during the period. Prudential Financial Inc. purchased a new stake in shares of ADC Therapeutics during the 4th quarter worth $35,000. Finally, Cerity Partners LLC acquired a new position in shares of ADC Therapeutics during the 1st quarter worth $25,000. Institutional investors and hedge funds own 41.10% of the company's stock.

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.