ADC Therapeutics (NYSE:ADCT – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.05, RTT News reports. The company had revenue of $21.72 million for the quarter, compared to analyst estimates of $18.69 million. During the same period in the prior year, the business earned ($0.30) earnings per share.
ADC Therapeutics Stock Performance
ADC Therapeutics stock opened at $1.65 on Tuesday. The stock’s 50 day moving average price is $1.37 and its 200 day moving average price is $2.42. ADC Therapeutics has a 1-year low of $0.78 and a 1-year high of $4.98.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on ADCT shares. Wall Street Zen upgraded shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Guggenheim reduced their target price on shares of ADC Therapeutics to $5.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.00.
Read Our Latest Stock Report on ADCT
About ADC Therapeutics
ADC Therapeutics SA (NYSE: ADCT) is a biotechnology company focused on developing and commercializing antibody-drug conjugates (ADCs) for the treatment of cancer. Its ADC platform is designed to combine monoclonal antibodies that target specific tumor-associated antigens with potent cytotoxic payloads, with the goal of selectively delivering treatment to cancer cells while limiting exposure to healthy tissue.
The company’s lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed against the CD19 antigen.
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