ADC Therapeutics (NYSE:ADCT) Announces Quarterly Earnings Results

ADC Therapeutics (NYSE:ADCT - Get Free Report) issued its earnings results on Thursday. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.06, Zacks reports. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $19.01 million.

ADC Therapeutics Trading Down 3.9 %

Shares of ADCT traded down $0.06 during midday trading on Tuesday, hitting $1.36. 168,340 shares of the company's stock traded hands, compared to its average volume of 623,495. The stock has a market capitalization of $131.01 million, a price-to-earnings ratio of -0.57 and a beta of 1.51. ADC Therapeutics has a 1 year low of $1.28 and a 1 year high of $5.38. The firm's fifty day moving average is $1.66 and its 200-day moving average is $2.24.

Analyst Ratings Changes

ADCT has been the topic of several recent research reports. HC Wainwright reiterated a "buy" rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Monday. Cantor Fitzgerald reiterated an "overweight" rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Guggenheim reduced their price objective on shares of ADC Therapeutics from $10.00 to $7.00 and set a "buy" rating for the company in a research note on Monday. Finally, Stephens upped 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $7.75.

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.