ADC Therapeutics (NYSE:ADCT) Issues Quarterly Earnings Results

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

ADC Therapeutics Price Performance

NYSE:ADCT opened at $1.49 on Friday. The company has a 50 day moving average price of $1.67 and a 200-day moving average price of $2.26. ADC Therapeutics has a 1-year low of $1.39 and a 1-year high of $5.38. The firm has a market cap of $143.58 million, a price-to-earnings ratio of -0.62 and a beta of 1.51.

Wall Street Analysts Forecast Growth

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