Analysts Set Expectations for ADC Therapeutics SA’s Q1 2024 Earnings (NYSE:ADCT)

ADC Therapeutics SA (NYSE:ADCT) – Equities researchers at HC Wainwright cut their Q1 2024 earnings per share (EPS) estimates for ADC Therapeutics in a report issued on Monday, April 15th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings per share of ($0.56) for the quarter, down from their previous forecast of ($0.54). HC Wainwright currently has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for ADC Therapeutics’ current full-year earnings is ($2.19) per share. HC Wainwright also issued estimates for ADC Therapeutics’ Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.60) EPS and FY2024 earnings at ($2.33) EPS.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.56). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The company had revenue of $16.79 million during the quarter, compared to the consensus estimate of $16.58 million.

Several other equities analysts have also recently weighed in on ADCT. Royal Bank of Canada reissued an “outperform” rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Thursday, March 14th. Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.50.

ADC Therapeutics Trading Down 3.8 %

Shares of ADCT stock opened at $4.77 on Thursday. ADC Therapeutics has a 12-month low of $0.36 and a 12-month high of $6.04. The stock has a market capitalization of $393.67 million, a P/E ratio of -1.63 and a beta of 1.73. The firm’s 50 day moving average is $4.62 and its 200 day moving average is $2.53.

Hedge Funds Weigh In On ADC Therapeutics

A number of institutional investors have recently bought and sold shares of ADCT. Moneta Group Investment Advisors LLC increased its position in ADC Therapeutics by 112,365.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,933,073 shares of the company’s stock worth $84,223,000 after buying an additional 21,913,571 shares in the last quarter. Millennium Management LLC increased its stake in ADC Therapeutics by 709.3% in the 4th quarter. Millennium Management LLC now owns 3,401,120 shares of the company’s stock worth $13,060,000 after buying an additional 2,980,867 shares in the last quarter. Bank of America Corp DE raised its holdings in ADC Therapeutics by 23,287.6% during the fourth quarter. Bank of America Corp DE now owns 1,604,626 shares of the company’s stock valued at $6,162,000 after acquiring an additional 1,597,765 shares during the period. Perceptive Advisors LLC purchased a new position in shares of ADC Therapeutics in the first quarter valued at about $2,917,000. Finally, Point72 Asset Management L.P. bought a new position in shares of ADC Therapeutics in the fourth quarter worth about $2,705,000. 41.10% of the stock is 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.