ADC Therapeutics (NYSE:ADCT) Announces Earnings Results

ADC Therapeutics (NYSE:ADCT) released its quarterly earnings data on Wednesday. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.02, Zacks reports. The business had revenue of $23.03 million during the quarter, compared to analysts’ expectations of $17.71 million.

ADC Therapeutics Stock Performance

Shares of ADCT opened at $1.80 on Thursday. ADC Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $4.32. The firm’s 50-day simple moving average is $1.42 and its two-hundred day simple moving average is $1.84. The stock has a market cap of $178.02 million, a PE ratio of -0.75 and a beta of 1.54.

Analyst Ratings Changes

A number of research analysts have issued reports on ADCT shares. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, March 31st. Stephens lifted their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Guggenheim reduced their target price on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $7.75.

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.