ADC Therapeutics (NYSE:ADCT) Given Buy Rating at HC Wainwright

ADC Therapeutics (NYSE:ADCT - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $8.00 target price on the stock. HC Wainwright also issued estimates for ADC Therapeutics' Q1 2025 earnings at ($0.39) EPS, Q2 2025 earnings at ($0.40) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.42) EPS and FY2025 earnings at ($1.62) EPS.

Other research analysts also recently issued reports about the stock. Guggenheim reissued a "buy" rating and issued a $10.00 price target on shares of ADC Therapeutics in a report on Thursday, December 12th. Cantor Fitzgerald restated an "overweight" rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Finally, Stephens lifted their target price on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics currently has a consensus rating of "Buy" and an average price target of $7.75.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT traded down $0.08 during trading on Monday, hitting $1.16. 476,124 shares of the company were exchanged, compared to its average volume of 625,621. ADC Therapeutics has a 52-week low of $1.14 and a 52-week high of $5.38. The stock has a 50 day moving average of $1.63 and a 200 day moving average of $2.22. The company has a market cap of $111.68 million, a PE ratio of -0.48 and a beta of 1.51.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.06. The firm had revenue of $19.00 million during the quarter, compared to analysts' expectations of $19.01 million. Sell-side analysts forecast that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kazazian Asset Management LLC purchased a new stake in shares of ADC Therapeutics in the 4th quarter worth about $26,000. Two Sigma Securities LLC purchased a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. grew its holdings in shares of ADC Therapeutics by 122.6% during the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company's stock worth $33,000 after acquiring an additional 9,248 shares during the period. Prudential Financial Inc. bought a new position in shares of ADC Therapeutics in the 4th quarter worth approximately $35,000. Finally, Intech Investment Management LLC purchased a new position in shares of ADC Therapeutics in the 3rd quarter valued at approximately $41,000. Institutional investors own 41.10% of the company's stock.

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.