HC Wainwright Reaffirms “Buy” Rating for ADC Therapeutics (NYSE:ADCT)

ADC Therapeutics (NYSE:ADCT)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $12.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their price target on shares of ADC Therapeutics from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, September 12th. Morgan Stanley cut their price objective on ADC Therapeutics from $5.00 to $2.00 in a research report on Tuesday, July 11th. Finally, JPMorgan Chase & Co. raised ADC Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, ADC Therapeutics currently has an average rating of “Hold” and an average price target of $7.67.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT opened at $0.77 on Tuesday. The company’s fifty day moving average is $1.33 and its 200 day moving average is $1.94. The company has a quick ratio of 4.88, a current ratio of 5.12 and a debt-to-equity ratio of 2.57. ADC Therapeutics has a 52 week low of $0.76 and a 52 week high of $5.75. The stock has a market cap of $58.89 million, a PE ratio of -0.34 and a beta of 1.01.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Tuesday, August 8th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.14). ADC Therapeutics had a negative net margin of 98.33% and a negative return on equity of 325.79%. The company had revenue of $19.28 million during the quarter, compared to the consensus estimate of $34.77 million. Research analysts anticipate that ADC Therapeutics will post -2.26 earnings per share for the current year.

Institutional Trading of ADC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ADCT. Prospera Financial Services Inc purchased a new stake in shares of ADC Therapeutics in the first quarter worth $25,000. HRT Financial LP bought a new position in shares of ADC Therapeutics in the first quarter worth approximately $31,000. Quantbot Technologies LP purchased a new stake in shares of ADC Therapeutics during the second quarter valued at approximately $38,000. Virtu Financial LLC bought a new stake in shares of ADC Therapeutics during the second quarter valued at approximately $40,000. Finally, Acadian Asset Management LLC purchased a new position in ADC Therapeutics in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; and LOTIS-7, a Phase Ib clinical trial for treatment of relapsed or refractory B-cell lineage non-hodgkin lymphoma (B-NHL).