ADC Therapeutics (NYSE:ADCT) Releases Earnings Results, Beats Estimates By $0.06 EPS

ADC Therapeutics (NYSE:ADCT) issued its earnings results on Thursday. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.06, Zacks reports. The firm had revenue of $19.00 million during the quarter, compared to the consensus estimate of $19.01 million.

ADC Therapeutics Price Performance

Shares of ADC Therapeutics stock traded down $0.05 on Friday, reaching $1.48. The company had a trading volume of 85,013 shares, compared to its average volume of 452,059. The firm’s 50-day moving average price is $1.67 and its two-hundred day moving average price is $2.27. ADC Therapeutics has a 1 year low of $1.39 and a 1 year high of $5.38. The firm has a market cap of $142.62 million, a price-to-earnings ratio of -0.62 and a beta of 1.51.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stephens increased their price objective on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Guggenheim reissued a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics has a consensus rating of “Buy” and an average target price of $8.50.

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.