HC Wainwright Increases ADC Therapeutics (NYSE:ADCT) Price Target to $21.00

ADC Therapeutics (NYSE:ADCTGet Rating) had its target price increased by HC Wainwright from $20.00 to $21.00 in a report issued on Monday morning, The Fly reports. HC Wainwright currently has a buy rating on the stock.

Separately, Morgan Stanley downgraded ADC Therapeutics from an overweight rating to an equal weight rating and cut their price objective for the company from $17.00 to $11.00 in a research note on Friday, September 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $23.00.

ADC Therapeutics Stock Down 0.4 %

Shares of NYSE ADCT opened at $5.05 on Monday. The company has a market capitalization of $387.89 million, a P/E ratio of -2.07 and a beta of 1.11. The company’s 50 day moving average price is $7.18 and its 200-day moving average price is $9.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 5.56 and a current ratio of 5.76. ADC Therapeutics has a 52-week low of $4.86 and a 52-week high of $32.00.

ADC Therapeutics (NYSE:ADCTGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.12. The company had revenue of $17.29 million for the quarter, compared to analysts’ expectations of $20.18 million. ADC Therapeutics had a negative net margin of 199.01% and a negative return on equity of 118.44%. During the same period in the prior year, the business earned ($0.95) earnings per share. Equities analysts forecast that ADC Therapeutics will post -2.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its stake in shares of ADC Therapeutics by 1,270.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after buying an additional 3,011 shares during the period. Quantbot Technologies LP bought a new position in ADC Therapeutics in the second quarter valued at approximately $38,000. Prospera Financial Services Inc bought a new position in ADC Therapeutics in the first quarter valued at approximately $87,000. Cypress Capital Group bought a new position in shares of ADC Therapeutics during the second quarter worth $80,000. Finally, State Street Corp bought a new stake in ADC Therapeutics in the 2nd quarter valued at $112,000.

ADC Therapeutics Company Profile

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ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL in second-line transplant-ineligible patients; and Phase I clinical trial for treatment of relapsed or refractory non-hodgkin lymphoma (NHL).

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