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

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.75.

A number of research analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $10.00 target price on shares of ADC Therapeutics in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ADC Therapeutics in a report on Saturday, September 27th. Royal Bank Of Canada raised ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and decreased their price target for the stock from $8.00 to $5.00 in a report on Friday, June 20th. Finally, Wall Street Zen downgraded ADC Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC purchased a new stake in ADC Therapeutics during the 2nd quarter worth about $959,000. Bank of America Corp DE increased its position in shares of ADC Therapeutics by 22.1% during the second quarter. Bank of America Corp DE now owns 2,199,059 shares of the company's stock worth $5,893,000 after purchasing an additional 397,905 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of ADC Therapeutics during the second quarter worth about $6,074,000. Stempoint Capital LP acquired a new stake in shares of ADC Therapeutics during the second quarter worth about $759,000. Finally, Panagora Asset Management Inc. increased its position in shares of ADC Therapeutics by 400.8% during the second quarter. Panagora Asset Management Inc. now owns 271,359 shares of the company's stock worth $727,000 after purchasing an additional 217,173 shares in the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.

ADC Therapeutics Trading Up 3.1%

NYSE:ADCT opened at $4.10 on Friday. The firm has a market cap of $461.70 million, a PE ratio of -2.61 and a beta of 1.99. The stock has a fifty day moving average price of $3.23 and a 200 day moving average price of $2.58. ADC Therapeutics has a 12-month low of $1.05 and a 12-month high of $4.31.

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

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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