ADC Therapeutics SA (NYSE:ADCT) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• ADC Therapeutics has an average “Hold” rating from six covering brokerages: three recommend buying, two say hold, and one recommends selling. The average 12-month price target is $5.00.
• The stock opened at $1.06, near its $0.78 one-year low and well below its $4.98 high; its 50-day and 200-day moving averages were $1.17 and $2.49, respectively.
• In its latest quarter, ADC Therapeutics reported an adjusted loss of $0.11 per share and $19.25 million in revenue, beating analyst estimates of a $0.22 loss and $18.89 million in revenue. Institutional investors and hedge funds own 41.1% of the stock.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) has earned an average rating of "Hold" from the six brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.00.

Several analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of ADC Therapeutics in a report on Friday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ADC Therapeutics in a report on Thursday, June 4th. Royal Bank Of Canada cut shares of ADC Therapeutics from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $6.00 to $2.00 in a research report on Thursday, June 4th. Wall Street Zen raised shares of ADC Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Stephens restated an "overweight" rating and set a $5.00 price objective on shares of ADC Therapeutics in a research report on Thursday, June 4th.

Hedge Funds Weigh In On ADC Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. acquired a new stake in shares of ADC Therapeutics during the second quarter worth $749,000. AXQ Capital LP acquired a new position in shares of ADC Therapeutics in the 2nd quarter valued at $29,000. Revolve Wealth Partners LLC purchased a new position in ADC Therapeutics in the 2nd quarter worth about $107,000. Bank of America Corp DE increased its stake in ADC Therapeutics by 2.0% in the 1st quarter. Bank of America Corp DE now owns 1,325,017 shares of the company's stock worth $4,969,000 after purchasing an additional 26,433 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in ADC Therapeutics by 36.0% during the 1st 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 period. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Stock Performance

ADC Therapeutics stock opened at $1.06 on Friday. The company has a 50-day simple moving average of $1.17 and a 200-day simple moving average of $2.49. The firm has a market capitalization of $135.97 million, a P/E ratio of -1.61 and a beta of 1.84. ADC Therapeutics has a one year low of $0.78 and a one year high of $4.98.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.11. The business had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.89 million. As a group, sell-side analysts forecast that ADC Therapeutics will post -0.8 earnings per share for the current year.

About ADC Therapeutics

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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