ADC Therapeutics (NYSE:ADCT) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a research report released on Monday,Benzinga reports. The brokerage currently has a $8.00 price target on the stock.

A number of other equities analysts also recently weighed in on ADCT. Guggenheim restated a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a report on Thursday, December 12th. Stephens started coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They set an “overweight” rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.00.

ADC Therapeutics Trading Down 3.0 %

Shares of NYSE ADCT opened at $1.96 on Monday. The company has a fifty day moving average price of $2.37 and a 200 day moving average price of $2.84. The firm has a market cap of $189.51 million, a PE ratio of -0.82 and a beta of 1.55. ADC Therapeutics has a 1-year low of $1.71 and a 1-year high of $6.04.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The firm had revenue of $18.46 million for the quarter, compared to the consensus estimate of $18.76 million. During the same quarter in the previous year, the business earned ($0.58) EPS. Equities research analysts forecast that ADC Therapeutics will post -1.67 EPS for the current year.

Insider Transactions at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc acquired 100,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $3.04 per share, with a total value of $304,000.00. Following the completion of the purchase, the insider now directly owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. This represents a 0.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On ADC Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in ADC Therapeutics in the second quarter valued at approximately $33,000. Intech Investment Management LLC acquired a new position in shares of ADC Therapeutics during the 3rd quarter valued at $41,000. Acadian Asset Management LLC bought a new position in ADC Therapeutics during the second quarter worth $51,000. Readystate Asset Management LP bought a new position in ADC Therapeutics during the third quarter worth $54,000. Finally, SG Americas Securities LLC acquired a new stake in ADC Therapeutics in the third quarter worth $84,000. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Company Profile

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.