ADC Therapeutics SA (NYSE:ADCT – Get Free Report) has been given an average recommendation of “Hold” by the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.00.
ADCT has been the subject of a number of recent analyst reports. Guggenheim lowered their price objective on ADC Therapeutics to $5.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a research note on Thursday, June 4th. Royal Bank Of Canada downgraded shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $6.00 to $2.00 in a research report on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday.
Get Our Latest Analysis on ADC Therapeutics
ADC Therapeutics Price Performance
ADC Therapeutics (NYSE:ADCT – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.11. The business had revenue of $19.25 million for the quarter, compared to analysts’ expectations of $18.89 million. As a group, equities analysts expect that ADC Therapeutics will post -0.88 earnings per share for the current year.
Institutional Investors Weigh In On ADC Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of ADCT. AQR Capital Management LLC raised its stake in shares of ADC Therapeutics by 411.1% in the 1st quarter. AQR Capital Management LLC now owns 201,170 shares of the company’s stock valued at $284,000 after purchasing an additional 161,808 shares in the last quarter. Creative Planning bought a new stake in ADC Therapeutics in the second quarter valued at about $96,000. Nantahala Capital Management LLC bought a new stake in ADC Therapeutics in the second quarter valued at about $6,074,000. Bank of America Corp DE raised its stake in ADC Therapeutics by 22.1% during the second quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock valued at $5,893,000 after buying an additional 397,905 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in ADC Therapeutics during the second quarter valued at approximately $959,000. Institutional investors own 41.10% of the company’s stock.
ADC Therapeutics Company Profile
ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.
At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.
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