H.C. Wainwright analyst Robert Burns reiterated a Buy rating on ADC Therapeutics (ADCT – Research Report) today and set a price target of $9.00.
Robert Burns has assigned a Buy rating to ADC Therapeutics, influenced by a collection of promising developments and data surrounding the company’s lead products. He has identified several clinical data catalysts that are anticipated to bolster investor confidence, including upcoming results from the LOTIS-7 study and trials for ADCT-601 and ADCT-602. With a solid balance sheet carrying $278.5 million, the company is expected to have sufficient operational funds into late 2025, aligning with the timeline of these crucial data releases.
Furthermore, Burns is encouraged by the positive response rates seen in the LOTIS-7 trial for ZYNLONTA in second-line diffuse large B-cell lymphoma (DLBCL), prompting an increase in market penetration projections for ZYNLONTA from 10% to 20%. The Phase 1b trial of ADCT-601 has also shown early signs of efficacy in sarcoma and pancreatic cancer, which enhances the drug’s potential. These factors, combined with the company’s strategic moves in dose escalation and combination therapies, support Burns’ decision to maintain a Buy rating and raise the price target to $9 from the previous $3.
According to TipRanks, Burns is an analyst with an average return of -22.3% and a 24.40% success rate. Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Black Diamond Therapeutics, and Repare Therapeutics.
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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.
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