Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on ADC Therapeutics (ADCT – Research Report), with a price target of $3.00.
Robert Burns has issued a Buy rating for ADC Therapeutics based on a promising outlook for the company’s pipeline and financial health. His optimism is grounded in the anticipated milestones and clinical data catalysts expected to unfold in 2024, which includes additional data from the LOTIS-7 study, ADCT-601 Phase 1 trial results, and further insights into ADCT-602. Burns underscores the company’s solid financial position, with sufficient cash reserves to fund operations well into late 2025, covering the period during which these catalysts are expected to materialize.
Moreover, the initial results from LOTIS-7 and ADCT-601 have been encouraging, indicating potential efficacy without significant adverse events. The LOTIS-7 study has already shown that all five assessed patients responded to the treatment at the first dosage level. Additionally, the positive early signs of antitumor activity in the Phase 1b trial of ADCT-601 provide further hope for the treatment’s success in various cancers. Burns’s recommendation reflects the expectation of continued positive developments and data updates in the coming year, which could significantly enhance ADC Therapeutics’ prospects and stock performance.
Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Black Diamond Therapeutics, and Repare Therapeutics. According to TipRanks, Burns has an average return of -30.9% and a 23.40% success rate on recommended stocks.
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ADC Therapeutics (ADCT) Company Description:
ADC Therapeutics SA is a United States-based clinical-stage oncology-focused biotechnology company. It is involved in the development of antibody-drug conjugates for patients suffering from hematological malignancies and solid tumors. The company’s product candidate includes ADCT-402, ADCT-301, ADCT-602, and ADCT-601.
Read More on ADCT:
- ADC Therapeutics Regains Compliance with NYSE Continued Listing Standards
- ADC Therapeutics Provides Business Updates
- ADC Therapeutics Announces Initial Results from Investigator-Initiated Phase 2 Clinical Trial Evaluating ZYNLONTA® in Combination with Rituximab in Patients with Relapsed/Refractory Follicular Lymphoma (FL)
- ADC Therapeutics price target lowered to $3 from $12 at H.C. Wainwright
- ADC Therapeutics downgraded at TD Cowen on lack of Zynlonta growth
