ADC Therapeutics (NYSE:ADCT) Issues Earnings Results

ADC Therapeutics (NYSE:ADCT) issued its quarterly earnings data on Monday. The company reported ($0.56) earnings per share for the quarter, hitting the consensus estimate of ($0.56), Yahoo Finance reports. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. The business had revenue of $18.05 million during the quarter, compared to the consensus estimate of $18.19 million. During the same quarter in the previous year, the firm earned ($0.74) EPS.

ADC Therapeutics Trading Down 8.3 %

ADCT stock opened at $4.43 on Thursday. The stock has a 50-day moving average price of $4.58 and a 200-day moving average price of $2.90. ADC Therapeutics has a 1-year low of $0.36 and a 1-year high of $6.04. The firm has a market cap of $366.85 million, a PE ratio of -1.51 and a beta of 1.69.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. HC Wainwright cut their price target on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

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.