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

HC Wainwright restated their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a report released on Monday, Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other research analysts have also recently commented on ADCT. Royal Bank of Canada reiterated an outperform rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, March 14th. Guggenheim restated a buy rating on shares of ADC Therapeutics in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $7.50.

ADC Therapeutics Trading Up 11.0 %

NYSE:ADCT opened at $4.93 on Monday. The stock has a 50 day moving average of $4.61 and a two-hundred day moving average of $2.51. The firm has a market cap of $406.87 million, a P/E ratio of -1.68 and a beta of 1.73. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $16.79 million during the quarter, compared to analyst estimates of $16.58 million. On average, research analysts forecast that ADC Therapeutics will post -2.19 earnings per share for the current year.

Institutional Trading of ADC Therapeutics

Several hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC raised its stake in shares of ADC Therapeutics by 112,365.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,933,073 shares of the company’s stock valued at $84,223,000 after acquiring an additional 21,913,571 shares in the last quarter. Redmile Group LLC raised its stake in shares of ADC Therapeutics by 0.9% in the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after acquiring an additional 128,110 shares in the last quarter. Millennium Management LLC increased its holdings in ADC Therapeutics by 709.3% in the fourth quarter. Millennium Management LLC now owns 3,401,120 shares of the company’s stock valued at $13,060,000 after buying an additional 2,980,867 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in ADC Therapeutics by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 3,091,814 shares of the company’s stock valued at $6,029,000 after buying an additional 87,348 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in ADC Therapeutics by 2.5% in the first quarter. Bank of America Corp DE now owns 1,644,808 shares of the company’s stock valued at $3,207,000 after buying an additional 40,182 shares during the last quarter. 41.10% of the stock is currently 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.