ADC Therapeutics (NYSE:ADCT – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.56), Yahoo Finance reports. The business had revenue of $18.05 million during the quarter, compared to the consensus estimate of $18.19 million. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. During the same quarter last year, the company earned ($0.74) earnings per share.
ADC Therapeutics Stock Up 8.5 %
Shares of NYSE ADCT opened at $4.83 on Wednesday. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04. The company has a market cap of $399.97 million, a price-to-earnings ratio of -1.65 and a beta of 1.69. The business has a fifty day simple moving average of $4.58 and a 200-day simple moving average of $2.87.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on ADCT shares. HC Wainwright decreased their price objective on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday. Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.
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.
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