ADC Therapeutics (NYSE:ADCT) Announces Quarterly Earnings Results

ADC Therapeutics (NYSE:ADCT) announced its quarterly earnings results on Thursday. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06, Zacks reports. The company had revenue of $19.00 million during the quarter, compared to analysts’ expectations of $19.01 million.

ADC Therapeutics Stock Down 2.3 %

ADCT opened at $1.49 on Friday. The company has a market cap of $143.58 million, a P/E ratio of -0.62 and a beta of 1.51. The firm’s 50-day moving average price is $1.67 and its 200-day moving average price is $2.26. ADC Therapeutics has a 52-week low of $1.39 and a 52-week high of $5.38.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stephens lifted their target price on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Guggenheim reiterated a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a research note on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.50.

About ADC Therapeutics

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.