ADC Therapeutics (NYSE:ADCT) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded ADC Therapeutics from “sell” to “hold,” while broader analyst coverage remains mixed. MarketBeat reports a consensus “hold” rating and an average price target of $6.25.
• ADC Therapeutics shares opened at $1.00, near the lower end of their 52-week range of $0.78 to $4.98; the stock has a market capitalization of approximately $127.8 million.
• The company reported a quarterly loss of $0.11 per share, beating the consensus estimate of a $0.22 loss, while revenue of $19.25 million slightly exceeded expectations. Institutional investors own about 41.1% of the stock.

ADC Therapeutics (NYSE:ADCT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other analysts have also recently weighed in on the stock. Stephens reissued an "overweight" rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Thursday, June 4th. Royal Bank Of Canada cut shares of ADC Therapeutics from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $6.00 to $2.00 in a research note on Thursday, June 4th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ADC Therapeutics in a report on Thursday, June 4th. HC Wainwright lowered ADC Therapeutics from a "buy" rating to a "neutral" rating in a research note on Monday, June 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of ADC Therapeutics in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, ADC Therapeutics has a consensus rating of "Hold" and a consensus target price of $6.25.

ADC Therapeutics Price Performance

ADCT opened at $1.00 on Friday. The company has a market capitalization of $127.83 million, a P/E ratio of -1.52 and a beta of 1.89. The firm's fifty day moving average price is $1.15 and its two-hundred day moving average price is $2.88. ADC Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $4.98.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.11. The business had revenue of $19.25 million during the quarter, compared to analyst estimates of $18.89 million. On average, equities research analysts expect that ADC Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

A number of hedge funds have recently made changes to their positions in ADCT. Revolve Wealth Partners LLC bought a new position in ADC Therapeutics during the 2nd quarter valued at about $107,000. Bank of America Corp DE grew its stake in ADC Therapeutics by 2.0% during the first quarter. Bank of America Corp DE now owns 1,325,017 shares of the company's stock worth $4,969,000 after buying an additional 26,433 shares during the last quarter. Quantinno Capital Management LP grew its stake in ADC Therapeutics by 36.0% during the first quarter. Quantinno Capital Management LP now owns 14,719 shares of the company's stock worth $55,000 after buying an additional 3,894 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of ADC Therapeutics during the first quarter worth approximately $985,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of ADC Therapeutics during the first quarter worth approximately $1,122,000. Institutional investors and hedge funds own 41.10% of the company's stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics' portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.

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