HC Wainwright Raises ADC Therapeutics (NYSE:ADCT) Price Target to $8.00

ADC Therapeutics (NYSE:ADCT) had its price objective boosted by HC Wainwright from $7.00 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 102.74% from the company’s current price.

A number of other equities research analysts have also weighed in on ADCT. Royal Bank Of Canada reissued an “outperform” rating and set a $5.00 target price on shares of ADC Therapeutics in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.67.

ADC Therapeutics Trading Down 2.6%

ADC Therapeutics stock opened at $3.95 on Monday. The stock has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $3.94. ADC Therapeutics has a 12 month low of $1.05 and a 12 month high of $4.98. The company has a market capitalization of $501.30 million, a PE ratio of -3.29 and a beta of 1.92.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.28. The firm had revenue of $23.06 million for the quarter, compared to the consensus estimate of $22.29 million. As a group, analysts predict that ADC Therapeutics will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of ADC Therapeutics

A number of large investors have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new position in ADC Therapeutics in the fourth quarter worth approximately $43,000. ProShare Advisors LLC grew its stake in ADC Therapeutics by 27.0% in the fourth quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after acquiring an additional 3,339 shares during the period. AXQ Capital LP bought a new stake in shares of ADC Therapeutics during the fourth quarter valued at approximately $57,000. R Squared Ltd bought a new stake in shares of ADC Therapeutics during the third quarter valued at approximately $59,000. Finally, Henrickson Nauta Wealth Advisors Inc. acquired a new position in shares of ADC Therapeutics during the fourth quarter worth approximately $69,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

About ADC Therapeutics

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.