ADC Therapeutics SA (NYSE:ADCT – Free Report) – Stock analysts at HC Wainwright increased their Q3 2023 earnings per share (EPS) estimates for shares of ADC Therapeutics in a research report issued to clients and investors on Tuesday, September 19th. HC Wainwright analyst R. Burns now forecasts that the company will earn ($0.67) per share for the quarter, up from their previous forecast of ($0.76). HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for ADC Therapeutics’ current full-year earnings is ($2.32) per share. HC Wainwright also issued estimates for ADC Therapeutics’ Q4 2023 earnings at ($0.64) EPS, FY2023 earnings at ($2.62) EPS, Q1 2024 earnings at ($0.63) EPS, Q2 2024 earnings at ($0.63) EPS, Q3 2024 earnings at ($0.63) EPS and Q4 2024 earnings at ($0.63) EPS.
A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada cut their price objective on ADC Therapeutics from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 12th. JPMorgan Chase & Co. upgraded ADC Therapeutics from an “underweight” rating to a “neutral” rating in a research report on Thursday, August 10th. Finally, Morgan Stanley cut their price objective on ADC Therapeutics from $5.00 to $2.00 in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ADC Therapeutics presently has a consensus rating of “Hold” and an average target price of $8.20.
ADC Therapeutics Price Performance
Shares of ADCT stock opened at $0.72 on Friday. The firm has a market cap of $55.34 million, a P/E ratio of -0.32 and a beta of 1.01. ADC Therapeutics has a fifty-two week low of $0.70 and a fifty-two week high of $5.75. The business’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.89. The company has a debt-to-equity ratio of 2.57, a quick ratio of 4.88 and a current ratio of 5.12.
ADC Therapeutics (NYSE:ADCT – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.14). The business had revenue of $19.28 million during the quarter, compared to analysts’ expectations of $34.77 million. ADC Therapeutics had a negative return on equity of 325.79% and a negative net margin of 98.33%.
Institutional Investors Weigh In On ADC Therapeutics
Several hedge funds have recently made changes to their positions in ADCT. Moneta Group Investment Advisors LLC raised its stake in ADC Therapeutics by 112,365.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,933,073 shares of the company’s stock valued at $84,223,000 after buying an additional 21,913,571 shares during the last quarter. Prosight Management LP raised its stake in ADC Therapeutics by 71.4% during the second quarter. Prosight Management LP now owns 5,583,900 shares of the company’s stock valued at $12,005,000 after buying an additional 2,326,540 shares during the last quarter. Millennium Management LLC raised its stake in ADC Therapeutics by 709.3% during the fourth quarter. Millennium Management LLC now owns 3,401,120 shares of the company’s stock valued at $13,060,000 after buying an additional 2,980,867 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ADC Therapeutics by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 3,091,814 shares of the company’s stock valued at $6,029,000 after buying an additional 87,348 shares during the last quarter. Finally, Sio Capital Management LLC purchased a new position in ADC Therapeutics during the first quarter valued at $4,213,000. 67.29% of the stock is currently owned by institutional investors.
ADC Therapeutics Company Profile
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; and LOTIS-7, a Phase Ib clinical trial for treatment of relapsed or refractory B-cell lineage non-hodgkin lymphoma (B-NHL).
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