ADC Therapeutics’ (ADCT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a research note published on Monday,Benzinga reports. HC Wainwright currently has a $8.00 target price on the stock.

Several other analysts have also recently commented on ADCT. Stephens lifted their price target on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $10.00 price target on shares of ADC Therapeutics in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $7.75.

ADC Therapeutics Price Performance

Shares of NYSE ADCT opened at $1.36 on Monday. The company has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $2.22. The company has a market cap of $131.01 million, a PE ratio of -0.57 and a beta of 1.51. ADC Therapeutics has a 12 month low of $1.28 and a 12 month high of $5.38.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. The business had revenue of $19.00 million during the quarter, compared to analyst estimates of $19.01 million. On average, analysts anticipate that ADC Therapeutics will post -1.69 EPS for the current year.

Institutional Trading of ADC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ADCT. Intech Investment Management LLC purchased a new stake in ADC Therapeutics during the third quarter worth approximately $41,000. Kazazian Asset Management LLC acquired a new position in shares of ADC Therapeutics during the 4th quarter valued at $26,000. Two Sigma Securities LLC purchased a new stake in ADC Therapeutics during the 4th quarter worth $30,000. Russell Investments Group Ltd. increased its holdings in ADC Therapeutics by 122.6% in the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock valued at $33,000 after purchasing an additional 9,248 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in ADC Therapeutics in the third quarter valued at about $54,000. Institutional investors and hedge funds 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.