ADC Therapeutics SA (NYSE:ADCT) Given Average Recommendation of "Buy" by Analysts

Key Points

• ADC Therapeutics SA has received a consensus recommendation of "Buy" from four brokerages, with an average 12-month price target of $7.75.
• The company's stock, currently at $3.31, has experienced a 6.1% decline and has a 12-month high of $3.97 and a low of $1.05.
• During its last earnings report, ADC Therapeutics missed earnings expectations with a loss of ($0.50) per share, despite higher revenue of $18.84 million compared to forecasts.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) has been assigned a consensus recommendation of "Buy" from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.75.

A number of equities research analysts recently weighed in on ADCT shares. Royal Bank Of Canada raised shares of ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and lowered their price objective for the company from $8.00 to $5.00 in a research report on Friday, June 20th. Wall Street Zen lowered ADC Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Guggenheim reiterated a "buy" rating and set a $10.00 price target on shares of ADC Therapeutics in a research report on Wednesday, August 13th.

ADC Therapeutics Trading Down 6.1%

ADCT stock opened at $3.31 on Wednesday. The stock's 50 day simple moving average is $3.06 and its 200 day simple moving average is $2.35. ADC Therapeutics has a 12-month low of $1.05 and a 12-month high of $3.97. The firm has a market cap of $372.04 million, a P/E ratio of -2.11 and a beta of 2.00.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The business had revenue of $18.84 million for the quarter, compared to analysts' expectations of $17.82 million. On average, research analysts forecast that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ADCT. ProShare Advisors LLC boosted its position in ADC Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock worth $46,000 after acquiring an additional 7,535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ADC Therapeutics by 21.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,520 shares of the company's stock valued at $93,000 after purchasing an additional 8,246 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of ADC Therapeutics by 39.4% during the fourth quarter. Wells Fargo & Company MN now owns 41,832 shares of the company's stock valued at $83,000 after purchasing an additional 11,834 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in ADC Therapeutics by 46.2% in the first quarter. MetLife Investment Management LLC now owns 45,487 shares of the company's stock worth $64,000 after purchasing an additional 14,370 shares during the period. Finally, Deutsche Bank AG grew its position in ADC Therapeutics by 40.7% in the 4th quarter. Deutsche Bank AG now owns 56,062 shares of the company's stock valued at $112,000 after buying an additional 16,217 shares in the last quarter. 41.10% of the stock is currently owned by institutional investors.

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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