ADC Therapeutics (NYSE:ADCT) PT Raised to $21.00 at HC Wainwright

ADC Therapeutics (NYSE:ADCTGet Rating) had its price target hoisted by HC Wainwright from $20.00 to $21.00 in a research note issued to investors on Monday, The Fly reports. HC Wainwright currently has a buy rating on the stock.

Separately, Morgan Stanley downgraded ADC Therapeutics from an overweight rating to an equal weight rating and decreased their price objective for the company from $17.00 to $11.00 in a report on Friday, September 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $23.00.

ADC Therapeutics Stock Down 0.4 %

ADCT opened at $5.05 on Monday. ADC Therapeutics has a 12 month low of $4.86 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.76 and a quick ratio of 5.56. The stock has a market cap of $387.89 million, a P/E ratio of -2.07 and a beta of 1.11. The stock’s 50 day moving average price is $7.18 and its 200 day moving average price is $9.24.

ADC Therapeutics (NYSE:ADCTGet Rating) last issued its earnings results on Tuesday, August 9th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.12. ADC Therapeutics had a negative return on equity of 118.44% and a negative net margin of 199.01%. The business had revenue of $17.29 million during the quarter, compared to analysts’ expectations of $20.18 million. During the same quarter last year, the firm posted ($0.95) earnings per share. As a group, research analysts predict that ADC Therapeutics will post -2.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADCT. Bank of America Corp DE grew its position in shares of ADC Therapeutics by 1,121.9% during the 4th quarter. Bank of America Corp DE now owns 100,877 shares of the company’s stock worth $2,038,000 after purchasing an additional 92,621 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of ADC Therapeutics by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 303,234 shares of the company’s stock worth $6,126,000 after acquiring an additional 11,429 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of ADC Therapeutics by 20.5% during the 4th quarter. Allianz Asset Management GmbH now owns 58,030 shares of the company’s stock worth $1,177,000 after acquiring an additional 9,860 shares in the last quarter. Eventide Asset Management LLC boosted its position in shares of ADC Therapeutics by 50.5% during the 4th quarter. Eventide Asset Management LLC now owns 1,975,000 shares of the company’s stock worth $39,895,000 after acquiring an additional 663,010 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of ADC Therapeutics by 5.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,807,723 shares of the company’s stock worth $56,716,000 after acquiring an additional 153,506 shares in the last quarter.

ADC Therapeutics Company Profile

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ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL in second-line transplant-ineligible patients; and Phase I clinical trial for treatment of relapsed or refractory non-hodgkin lymphoma (NHL).

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