ADC Therapeutics (NYSE:ADCT) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a $8.00 target price on the stock.

Several other analysts have also issued reports on the company. Guggenheim reissued a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a report on Thursday, December 12th. Stephens raised their target price on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $7.75.

ADC Therapeutics Stock Down 5.7 %

ADCT opened at $1.41 on Monday. ADC Therapeutics has a 12-month low of $1.28 and a 12-month high of $5.38. The business has a 50 day moving average of $1.66 and a 200-day moving average of $2.24. The stock has a market cap of $135.85 million, a price-to-earnings ratio of -0.59 and a beta of 1.51.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $19.01 million. As a group, analysts expect that ADC Therapeutics will post -1.69 earnings per share for the current year.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kazazian Asset Management LLC bought a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $26,000. Two Sigma Securities LLC bought a new position in ADC Therapeutics in the 4th quarter valued at $30,000. Russell Investments Group Ltd. grew its stake in ADC Therapeutics by 122.6% in the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock valued at $33,000 after purchasing an additional 9,248 shares during the period. Prudential Financial Inc. purchased a new stake in shares of ADC Therapeutics during the 4th quarter valued at $35,000. Finally, Intech Investment Management LLC purchased a new position in shares of ADC Therapeutics in the 3rd quarter worth about $41,000. Institutional investors and hedge funds 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.