ADC Therapeutics (NYSE:ADCT) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

ADC Therapeutics (NYSE:ADCT) posted its quarterly earnings results on Thursday. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06, Zacks reports. The company had revenue of $19.00 million for the quarter, compared to analyst estimates of $19.01 million.

ADC Therapeutics Stock Down 3.0 %

Shares of NYSE:ADCT traded down $0.05 during trading on Friday, reaching $1.48. The stock had a trading volume of 81,554 shares, compared to its average volume of 614,205. The stock has a fifty day simple moving average of $1.67 and a two-hundred day simple moving average of $2.27. ADC Therapeutics has a 52 week low of $1.39 and a 52 week high of $5.38. The firm has a market capitalization of $142.62 million, a price-to-earnings ratio of -0.62 and a beta of 1.51.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADCT shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Stephens lifted their price objective on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a report on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Monday, January 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.50.

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.