ADC Therapeutics SA (NYSE:ADCT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ADC Therapeutics SA (NYSE:ADCT) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.25.

A number of brokerages have recently commented on ADCT. Stephens initiated coverage on ADC Therapeutics in a research note on Friday. They set an “overweight” rating and a $6.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, August 8th.

ADC Therapeutics Price Performance

ADCT stock opened at $2.93 on Friday. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The stock has a market cap of $282.82 million, a price-to-earnings ratio of -1.15 and a beta of 1.59. The company has a 50 day simple moving average of $3.02 and a 200 day simple moving average of $3.33.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.06. The firm had revenue of $17.41 million for the quarter, compared to analyst estimates of $19.06 million. During the same period last year, the business earned ($0.58) EPS. On average, equities research analysts anticipate that ADC Therapeutics will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

Several large investors have recently modified their holdings of the company. Affinity Asset Advisors LLC acquired a new stake in ADC Therapeutics during the second quarter worth approximately $1,500,000. Bank of New York Mellon Corp acquired a new stake in shares of ADC Therapeutics during the 2nd quarter worth approximately $648,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of ADC Therapeutics during the 1st quarter worth approximately $462,000. Rhumbline Advisers bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at $272,000. Finally, XTX Topco Ltd lifted its position in shares of ADC Therapeutics by 129.0% during the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock valued at $180,000 after acquiring an additional 32,034 shares during the period. 41.10% of the stock is currently owned by institutional investors and hedge funds.

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.