ADC Therapeutics SA (NYSE:ADCT) Receives $8.25 Average Price Target from Analysts

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) has received a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.25.

A number of brokerages recently commented on ADCT. Stephens initiated coverage on shares of ADC Therapeutics in a research report on Friday. They issued an "overweight" rating and a $6.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, August 7th. Finally, HC Wainwright reissued a "buy" rating and set a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, August 8th.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT remained flat at $2.93 during trading on Friday. The stock had a trading volume of 174,380 shares, compared to its average volume of 631,540. The firm has a market capitalization of $283.30 million, a PE ratio of -1.15 and a beta of 1.59. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The business's 50-day moving average price is $3.02 and its 200-day moving average price is $3.33.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.06. The firm had revenue of $17.41 million during the quarter, compared to analysts' expectations of $19.06 million. During the same quarter in the previous year, the business posted ($0.58) EPS. Equities research analysts anticipate that ADC Therapeutics will post -1.72 earnings per share for the current year.

Hedge Funds Weigh In On ADC Therapeutics

A number of large investors have recently modified their holdings of the company. Affinity Asset Advisors LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter worth $1,500,000. Bank of New York Mellon Corp bought a new position in shares of ADC Therapeutics in the second quarter valued at approximately $648,000. Sanibel Captiva Trust Company Inc. increased its stake in ADC Therapeutics by 9.7% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company's stock valued at $357,000 after acquiring an additional 10,000 shares during the period. Rhumbline Advisers acquired a new stake in ADC Therapeutics in the 2nd quarter valued at about $272,000. Finally, XTX Topco Ltd boosted its position in shares of ADC Therapeutics by 129.0% in the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company's stock worth $180,000 after purchasing an additional 32,034 shares during the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

About ADC Therapeutics

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.