ADC Therapeutics (ADCT) to Release Earnings on Wednesday

ADC Therapeutics (NYSE:ADCT) is projected to issue its quarterly earnings data before the market opens on Wednesday, March 12th. Analysts expect the company to announce earnings of ($0.38) per share and revenue of $19.01 million for the quarter.

ADC Therapeutics Stock Performance

ADC Therapeutics stock opened at $1.79 on Wednesday. The stock has a market capitalization of $172.59 million, a price-to-earnings ratio of -0.75 and a beta of 1.54. ADC Therapeutics has a 52-week low of $1.39 and a 52-week high of $5.38. The stock’s 50 day moving average price is $1.74 and its two-hundred day moving average price is $2.40.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADCT. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Monday, January 6th. Stephens boosted their target price on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.50.

Insider Activity at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the insider now owns 13,145,712 shares of the company’s stock, valued at approximately $39,962,964.48. This represents a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

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.