ADC Therapeutics (NYSE:ADCT) Posts Quarterly Earnings Results, Hits Expectations

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

ADC Therapeutics Trading Down 2.7 %

Shares of NYSE ADCT traded down $0.13 during midday trading on Wednesday, reaching $4.70. The company had a trading volume of 94,805 shares, compared to its average volume of 739,635. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The business’s 50-day simple moving average is $4.58 and its 200 day simple moving average is $2.87. The stock has a market cap of $389.21 million, a P/E ratio of -1.65 and a beta of 1.69.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADCT shares. Guggenheim reiterated a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, March 14th. Finally, HC Wainwright lowered their price objective on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.