ADC Therapeutics SA (NYSE:ADCT) Given Consensus Recommendation of “Hold” by Brokerages

ADC Therapeutics SA (NYSE:ADCT) has earned an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $6.25.

Several brokerages have weighed in on ADCT. Royal Bank Of Canada downgraded ADC Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $6.00 to $2.00 in a report on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a research note on Thursday, June 4th. Stephens reissued an “overweight” rating and set a $5.00 price objective on shares of ADC Therapeutics in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Friday, July 17th. Finally, Wall Street Zen cut shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 6th.

ADC Therapeutics Stock Down 1.1%

NYSE:ADCT opened at $1.23 on Friday. ADC Therapeutics has a 52 week low of $0.78 and a 52 week high of $4.98. The company has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $3.15. The company has a market cap of $155.93 million, a price-to-earnings ratio of -1.17 and a beta of 1.87.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $20.85 million during the quarter, compared to analyst estimates of $19.99 million. During the same quarter in the prior year, the firm posted ($0.36) EPS. On average, analysts expect that ADC Therapeutics will post -0.88 EPS for the current year.

Institutional Investors Weigh In On ADC Therapeutics

Large investors have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of ADC Therapeutics in the 1st quarter valued at $38,000. Engineers Gate Manager LP purchased a new position in ADC Therapeutics in the fourth quarter valued at $43,000. Quantinno Capital Management LP increased its holdings in ADC Therapeutics by 36.0% in the first quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock valued at $55,000 after buying an additional 3,894 shares during the last quarter. ProShare Advisors LLC increased its holdings in ADC Therapeutics by 27.0% in the fourth quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after buying an additional 3,339 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in ADC Therapeutics in the fourth quarter valued at $57,000. 41.10% of the stock is owned by hedge funds and other institutional investors.

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.