ADC Therapeutics (NYSE:ADCT) Releases Quarterly Earnings Results

ADC Therapeutics (NYSE:ADCT) released its quarterly earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56), Yahoo Finance reports. ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The firm had revenue of $18.05 million for the quarter, compared to analysts’ expectations of $18.19 million. During the same quarter last year, the firm posted ($0.74) EPS.

ADC Therapeutics Price Performance

ADCT opened at $4.83 on Wednesday. The stock’s 50 day simple moving average is $4.58 and its 200 day simple moving average is $2.87. 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 $399.97 million, a price-to-earnings ratio of -1.65 and a beta of 1.69.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. Royal Bank of Canada reissued 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 decreased their price objective on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, ADC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus 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.