Brokerages Set ADC Therapeutics SA (NYSE:ADCT) Target Price at $7.75

Key Points

• ADC Therapeutics SA has received a consensus recommendation of "Buy" from four analysts, indicating positive market sentiment despite recent stock price fluctuations.
• The average 12-month price target set by analysts for ADC Therapeutics is $7.75, with recommendations varying from a "sell" to a "moderate buy."
• ADC Therapeutics reported a loss of $0.50 earnings per share in its most recent quarterly earnings, missing expectations, while revenue was slightly above analyst forecasts at $18.84 million.

Shares of ADC Therapeutics SA (NYSE:ADCT - Get Free Report) have received an average rating of "Buy" from the four research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.75.

ADCT has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of ADC Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Royal Bank Of Canada raised shares of ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and cut their price target for the stock from $8.00 to $5.00 in a report on Friday, June 20th.

Hedge Funds Weigh In On ADC Therapeutics

Several large investors have recently modified their holdings of ADCT. Cerity Partners LLC bought a new position in shares of ADC Therapeutics during the first quarter valued at $25,000. Atria Wealth Solutions Inc. bought a new position in shares of ADC Therapeutics during the first quarter valued at $28,000. Two Sigma Securities LLC acquired a new stake in shares of ADC Therapeutics during the fourth quarter worth $30,000. Russell Investments Group Ltd. increased its position in shares of ADC Therapeutics by 122.6% during the fourth quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company's stock worth $33,000 after buying an additional 9,248 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of ADC Therapeutics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock worth $46,000 after buying an additional 7,535 shares during the period. Institutional investors own 41.10% of the company's stock.

ADC Therapeutics Price Performance

Shares of NYSE ADCT traded down $0.1350 during mid-day trading on Friday, hitting $3.1050. The company had a trading volume of 327,968 shares, compared to its average volume of 588,192. The business's 50-day simple moving average is $3.01 and its 200-day simple moving average is $2.18. 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 $349.31 million, a P/E ratio of -1.98 and a beta of 1.92.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates 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. As a group, sell-side analysts predict 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.