Stephens Initiates Coverage on ADC Therapeutics (NYSE:ADCT)

Research analysts at Stephens began coverage on shares of ADC Therapeutics (NYSE:ADCT) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $6.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 105.13% from the company’s previous close.

A number of other equities analysts have also recently issued reports on ADCT. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

ADC Therapeutics Stock Down 8.6 %

Shares of NYSE:ADCT opened at $2.93 on Friday. The stock has a market cap of $282.82 million, a PE ratio of -1.15 and a beta of 1.59. The company’s fifty day moving average is $3.02 and its 200 day moving average is $3.33. ADC Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. The business had revenue of $17.41 million during the quarter, compared to analysts’ expectations of $19.06 million. During the same quarter in the previous year, the business earned ($0.58) EPS. Sell-side analysts anticipate that ADC Therapeutics will post -1.72 EPS for the current year.

Institutional Investors Weigh In On ADC Therapeutics

A number of large investors have recently modified their holdings of the stock. Sanibel Captiva Trust Company Inc. boosted its stake in ADC Therapeutics by 9.7% during the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock worth $357,000 after acquiring an additional 10,000 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in ADC Therapeutics during the second quarter worth about $33,000. Acadian Asset Management LLC bought a new stake in ADC Therapeutics during the second quarter worth about $51,000. SG Americas Securities LLC bought a new stake in ADC Therapeutics during the third quarter worth about $84,000. Finally, The Manufacturers Life Insurance Company bought a new stake in ADC Therapeutics during the second quarter worth about $85,000. Institutional investors own 41.10% of the company’s stock.

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.