ADC Therapeutics (NYSE:ADCT) Shares Gap Up Following Analyst Upgrade

Shares of ADC Therapeutics SA (NYSE:ADCT) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $48.00 to $57.00. The stock had previously closed at $24.54, but opened at $25.40. HC Wainwright currently has a buy rating on the stock. ADC Therapeutics shares last traded at $25.00, with a volume of 1,400 shares.

A number of other research firms also recently weighed in on ADCT. Zacks Investment Research lowered ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 23rd. Morgan Stanley cut their price objective on shares of ADC Therapeutics from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, March 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.50.

Institutional investors have recently modified their holdings of the company. US Bancorp DE purchased a new position in shares of ADC Therapeutics in the first quarter worth $44,000. Virtus ETF Advisers LLC purchased a new stake in ADC Therapeutics in the 4th quarter worth approximately $276,000. Henry James International Management Inc. bought a new position in ADC Therapeutics in the 1st quarter worth $366,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in ADC Therapeutics in the fourth quarter worth about $685,000. Finally, Norges Bank bought a new stake in shares of ADC Therapeutics during the fourth quarter valued at approximately $1,921,000. Hedge funds and other institutional investors own 40.88% of the company’s stock.

The company has a quick ratio of 15.55, a current ratio of 15.55 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.55 billion and a PE ratio of -9.56. The stock’s fifty day simple moving average is $25.22 and its two-hundred day simple moving average is $29.82.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings results on Wednesday, March 17th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.05). On average, equities research analysts anticipate that ADC Therapeutics SA will post -3.83 earnings per share for the current fiscal year.

ADC Therapeutics Company Profile (NYSE:ADCT)

ADC Therapeutics SA, a clinical-stage oncology-focused biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its lead product candidates are loncastuximab tesirine (ADCT-402), an ADC that is in a Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma, and Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL, as well as Phase I/II clinical trial in combination with ibrutinib for relapsed or refractory DLBCL and mantle cell lymphoma; and camidanlumab tesirine (ADCT-301), an ADC that is in a pivotal Phase II clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma and non-Hodgkin lymphoma, and Phase Ib clinical trial for selected advanced solid tumors.

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