ADC Therapeutics SA (NYSE:ADCT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ADC Therapeutics SA (NYSE:ADCT) has earned an average rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.50.

A number of research analysts have issued reports on the company. Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of ADC Therapeutics in a research note on Monday, April 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, March 14th.

ADC Therapeutics Stock Down 2.3 %

NYSE ADCT opened at $4.34 on Monday. The business has a 50 day moving average price of $4.62 and a 200-day moving average price of $2.69. ADC Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.04. The company has a market cap of $359.41 million, a price-to-earnings ratio of -1.48 and a beta of 1.73.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.56). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The company had revenue of $16.79 million for the quarter, compared to the consensus estimate of $16.58 million. On average, equities research analysts anticipate that ADC Therapeutics will post -2.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of ADC Therapeutics by 7.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after buying an additional 4,700 shares during the last quarter. Saxony Capital Management LLC purchased a new position in shares of ADC Therapeutics during the 4th quarter valued at $34,000. Redmile Group LLC lifted its position in shares of ADC Therapeutics by 0.9% during the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after buying an additional 128,110 shares during the last quarter. Affinity Asset Advisors LLC lifted its position in shares of ADC Therapeutics by 83.3% during the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $987,000 after buying an additional 500,000 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in ADC Therapeutics by 613.8% during the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after purchasing an additional 134,186 shares in the last quarter. Hedge funds and other institutional investors own 41.10% of the company’s stock.

About ADC Therapeutics

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.