ADC Therapeutics SA (NYSE:ADCT) Receives $7.75 Consensus Target Price from Brokerages

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 given an average recommendation of "Buy" by the four analysts that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $7.75.

Several research analysts have commented on ADCT shares. Royal Bank Of Canada upgraded ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and cut their target price for the stock from $8.00 to $5.00 in a research note on Friday, June 20th. Wall Street Zen downgraded ADC Therapeutics from a "hold" rating to a "sell" rating in a research 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 Stock Performance

NYSE ADCT traded down $0.12 during trading hours on Wednesday, hitting $3.20. The company had a trading volume of 86,874 shares, compared to its average volume of 589,377. ADC Therapeutics has a 52 week low of $1.05 and a 52 week high of $3.97. The firm has a 50 day simple moving average of $3.09 and a 200 day simple moving average of $2.39. The firm has a market capitalization of $359.44 million, a price-to-earnings ratio of -2.03 and a beta of 2.00.

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

Institutional Trading of ADC Therapeutics

Large investors have recently modified their holdings of the business. Cerity Partners LLC bought a new stake in shares of ADC Therapeutics during the 1st quarter valued at about $25,000. Atria Wealth Solutions Inc. bought a new stake in shares of ADC Therapeutics during the 1st quarter valued at about $28,000. ProShare Advisors LLC boosted its position in shares of ADC Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock valued at $46,000 after acquiring an additional 7,535 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of ADC Therapeutics by 136.3% during the 1st quarter. Russell Investments Group Ltd. now owns 39,688 shares of the company's stock valued at $56,000 after acquiring an additional 22,894 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of ADC Therapeutics by 46.2% during the 1st quarter. MetLife Investment Management LLC now owns 45,487 shares of the company's stock valued at $64,000 after acquiring an additional 14,370 shares during the last quarter. Institutional investors own 41.10% of the company's stock.

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.