ADC Therapeutics (NYSE:ADCT – Get Rating) had its target price trimmed by Morgan Stanley from $7.00 to $5.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.
A number of other equities analysts have also commented on the company. Capital One Financial assumed coverage on ADC Therapeutics in a research note on Tuesday, December 6th. They set an overweight rating and a $12.00 price target for the company. Bank of America lowered ADC Therapeutics from a buy rating to a neutral rating and lowered their price objective for the company from $14.00 to $7.00 in a research note on Tuesday, November 8th. Royal Bank of Canada lowered their price objective on ADC Therapeutics from $25.00 to $20.00 and set an outperform rating for the company in a research note on Wednesday, November 9th. Finally, HC Wainwright lowered their price objective on ADC Therapeutics from $21.00 to $20.00 and set a buy rating for the company in a research note on Wednesday, January 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, ADC Therapeutics currently has a consensus rating of Moderate Buy and an average target price of $11.50.
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ADC Therapeutics Stock Performance
NYSE ADCT opened at $4.68 on Tuesday. The firm has a market cap of $359.47 million, a price-to-earnings ratio of -2.17 and a beta of 0.95. The company has a quick ratio of 4.82, a current ratio of 5.00 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $3.76 and a 200-day moving average price of $5.37. ADC Therapeutics has a twelve month low of $2.69 and a twelve month high of $17.89.
ADC Therapeutics (NYSE:ADCT – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). ADC Therapeutics had a negative net
margin of 105.67% and a negative return on equity of 120.99%. The firm had revenue of $76.32 million for the quarter, compared to the consensus estimate of $55.61 million. As a group, equities research analysts predict that ADC Therapeutics will post -2.05 EPS for the current fiscal year.
Institutional Investors Weigh In On ADC Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of the business. Values First Advisors Inc. purchased a new stake in shares of ADC Therapeutics in the fourth quarter worth approximately $40,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of ADC Therapeutics by 14.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 58,869 shares of the company's stock worth $226,000 after buying an additional 7,337 shares during the period. Trexquant Investment LP purchased a new stake in shares of ADC Therapeutics in the third quarter worth approximately $226,000. Prosight Management LP purchased a new stake in shares of ADC Therapeutics in the third quarter worth approximately $1,194,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of ADC Therapeutics in the third quarter worth approximately $3,536,000. 75.56% of the stock is currently owned by hedge funds and other institutional investors.
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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