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

ADC Therapeutics (NYSE:ADCT) issued its earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, hitting 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 company had revenue of $18.05 million for the quarter, compared to analyst estimates of $18.19 million. During the same period in the prior year, the firm posted ($0.74) EPS.

ADC Therapeutics Stock Performance

Shares of ADCT stock opened at $4.43 on Thursday. ADC Therapeutics has a 52-week low of $0.36 and a 52-week high of $6.04. The stock has a market cap of $366.85 million, a price-to-earnings ratio of -1.51 and a beta of 1.69. The firm’s 50-day moving average is $4.58 and its 200-day moving average is $2.90.

Wall Street Analysts Forecast Growth

ADCT has been the topic of several research analyst reports. HC Wainwright lowered their price objective on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Thursday, March 14th. Finally, Guggenheim reiterated a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, ADC Therapeutics has a consensus rating of “Moderate Buy” and an average 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.