ADC Therapeutics SA (NYSE:ADCT) Expected to Earn Q1 2024 Earnings of ($0.56) Per Share

ADC Therapeutics SA (NYSE:ADCT) – HC Wainwright lowered their Q1 2024 earnings estimates for shares of ADC Therapeutics in a report issued on Monday, April 15th. HC Wainwright analyst R. Burns now anticipates that the company will earn ($0.56) per share for the quarter, down from their prior forecast of ($0.54). HC Wainwright has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for ADC Therapeutics’ current full-year earnings is ($2.20) per share. HC Wainwright also issued estimates for ADC Therapeutics’ Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.60) EPS and FY2024 earnings at ($2.33) EPS.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.56). ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. The company had revenue of $16.79 million for the quarter, compared to the consensus estimate of $16.58 million.

ADCT has been the topic of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Thursday, March 14th. Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, ADC Therapeutics currently has a consensus rating of “Hold” and an average target price of $7.50.

ADC Therapeutics Stock Performance

Shares of ADCT opened at $4.72 on Thursday. The business’s fifty day moving average price is $4.63 and its two-hundred day moving average price is $2.55. The firm has a market capitalization of $390.86 million, a price-to-earnings ratio of -1.61 and a beta of 1.73. ADC Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.04.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Prospera Financial Services Inc bought a new stake in ADC Therapeutics in the first quarter valued at approximately $25,000. HRT Financial LP bought a new stake in shares of ADC Therapeutics in the 1st quarter valued at $31,000. Saxony Capital Management LLC acquired a new stake in ADC Therapeutics during the 4th quarter worth $34,000. Quantbot Technologies LP bought a new position in ADC Therapeutics during the second quarter worth about $38,000. Finally, Tower Research Capital LLC TRC grew its stake in ADC Therapeutics by 1,253.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after acquiring an additional 8,773 shares during the period. 41.10% of the stock is owned by institutional investors and hedge funds.

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.