ADC Therapeutics (NYSE:ADCT) Posts Earnings Results

ADC Therapeutics (NYSE:ADCT) posted its quarterly earnings data on Monday. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56), Yahoo Finance reports. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. During the same quarter in the prior year, the company earned ($0.74) earnings per share.

ADC Therapeutics Trading Down 9.2 %

ADCT stock opened at $4.45 on Tuesday. ADC Therapeutics has a 12-month low of $0.36 and a 12-month high of $6.04. The business’s 50-day moving average is $4.58 and its 200 day moving average is $2.87. The stock has a market cap of $368.50 million, a price-to-earnings ratio of -1.52 and a beta of 1.69.

Analysts Set New Price Targets

ADCT has been the subject of several research analyst reports. HC Wainwright reduced their price objective on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, March 14th. Finally, Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.