ADC Therapeutics (NYSE:ADCT) Stock Price Expected to Rise, HC Wainwright Analyst Says

ADC Therapeutics (NYSE:ADCT) had its price objective increased by investment analysts at HC Wainwright from $7.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 106.45% from the company’s previous close.

A number of other equities research analysts have also issued reports on ADCT. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a report on Wednesday, January 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $5.00 price target on shares of ADC Therapeutics in a report on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ADC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $7.67.

ADC Therapeutics Trading Down 4.1%

Shares of ADC Therapeutics stock opened at $3.88 on Monday. ADC Therapeutics has a twelve month low of $1.05 and a twelve month high of $4.98. The stock has a market cap of $492.28 million, a price-to-earnings ratio of -3.23 and a beta of 1.91. The company has a fifty day moving average price of $3.99 and a 200 day moving average price of $3.93.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.28. The company had revenue of $23.06 million during the quarter, compared to analysts’ expectations of $22.29 million. Analysts forecast that ADC Therapeutics will post -1.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADCT. ProShare Advisors LLC grew its stake in ADC Therapeutics by 27.0% during the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after purchasing an additional 3,339 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of ADC Therapeutics by 31.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock valued at $130,000 after purchasing an additional 7,701 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ADC Therapeutics by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock valued at $166,000 after buying an additional 9,537 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of ADC Therapeutics by 23.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 56,783 shares of the company’s stock valued at $200,000 after buying an additional 10,842 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of ADC Therapeutics during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.