HC Wainwright reiterated their buy rating on shares of ADC Therapeutics (NYSE:ADCT – Free Report) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $9.00 price objective on the stock. HC Wainwright also issued estimates for ADC Therapeutics’ Q1 2024 earnings at ($0.56) EPS, Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.60) EPS and FY2024 earnings at ($2.33) EPS.
Several other research firms also recently commented on ADCT. Guggenheim reaffirmed a buy rating on shares of ADC Therapeutics in a report on Friday, April 5th. Royal Bank of Canada reissued an outperform rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $7.50.
Read Our Latest Stock Analysis on ADC Therapeutics
ADC Therapeutics Price Performance
ADC Therapeutics (NYSE:ADCT – Get Free Report) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.56). The business had revenue of $16.79 million during the quarter, compared to analysts’ expectations of $16.58 million. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. As a group, sell-side analysts forecast that ADC Therapeutics will post -2.19 earnings per share for the current year.
Institutional Trading of ADC Therapeutics
A number of hedge funds have recently added to or reduced their stakes in ADCT. Prospera Financial Services Inc acquired a new stake in shares of ADC Therapeutics in the first quarter valued at about $25,000. HRT Financial LP acquired a new stake in shares of ADC Therapeutics in the first quarter valued at about $31,000. Saxony Capital Management LLC acquired a new stake in shares of ADC Therapeutics in the fourth quarter valued at about $34,000. Quantbot Technologies LP acquired a new stake in shares of ADC Therapeutics in the second quarter valued at about $38,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ADC Therapeutics by 1,253.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after buying an additional 8,773 shares during the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.
ADC Therapeutics Company Profile
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.
Further Reading
- Five stocks we like better than ADC Therapeutics
- The “How” and “Why” of Investing in 5G Stocks
- Comprehensive PepsiCo Stock Analysis
- What Are Dividend Contenders? Investing in Dividend Contenders
- CSX Co.: The Railroad Powering Ahead with an Earnings Beat
- The Role Economic Reports Play in a Successful Investment Strategy
- 3 Steel Stocks Could Soar on New China Tariffs
Receive News & Ratings for ADC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.