ADC Therapeutics SA to Post FY2022 Earnings of ($3.06) Per Share, Cantor Fitzgerald Forecasts (NYSE:ADCT)

ADC Therapeutics SA (NYSE:ADCT) – Analysts at Cantor Fitzgerald reduced their FY2022 earnings estimates for shares of ADC Therapeutics in a research note issued to investors on Tuesday, January 11th. Cantor Fitzgerald analyst B. Cheng now forecasts that the company will earn ($3.06) per share for the year, down from their prior estimate of ($2.78).

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.92) by ($0.01). The business had revenue of $13.15 million during the quarter, compared to analysts’ expectations of $7.74 million. During the same period last year, the firm earned ($0.29) EPS.

A number of other research analysts have also recently weighed in on the company. HC Wainwright restated a “buy” rating on shares of ADC Therapeutics in a research report on Thursday, November 4th. Royal Bank of Canada raised their price target on ADC Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. Zacks Investment Research cut ADC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Wolfe Research initiated coverage on ADC Therapeutics in a research report on Monday, November 8th. They issued an “outperform” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, ADC Therapeutics presently has an average rating of “Buy” and a consensus target price of $42.17.

Shares of ADCT stock opened at $17.22 on Thursday. ADC Therapeutics has a fifty-two week low of $16.35 and a fifty-two week high of $34.48. The stock has a market cap of $1.19 billion, a P/E ratio of -5.25 and a beta of 2.19. The business has a fifty day simple moving average of $21.80 and a 200-day simple moving average of $24.44. The company has a quick ratio of 9.45, a current ratio of 9.59 and a debt-to-equity ratio of 0.76.

A number of institutional investors have recently bought and sold shares of ADCT. Principal Financial Group Inc. increased its position in ADC Therapeutics by 34.5% during the 2nd quarter. Principal Financial Group Inc. now owns 295,163 shares of the company’s stock worth $7,187,000 after purchasing an additional 75,664 shares in the last quarter. Employees Retirement System of Texas increased its position in ADC Therapeutics by 43.7% during the 2nd quarter. Employees Retirement System of Texas now owns 194,000 shares of the company’s stock worth $4,724,000 after purchasing an additional 59,000 shares in the last quarter. Virtus ETF Advisers LLC increased its position in ADC Therapeutics by 145.4% during the 2nd quarter. Virtus ETF Advisers LLC now owns 21,540 shares of the company’s stock worth $524,000 after purchasing an additional 12,764 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in ADC Therapeutics in the 2nd quarter worth about $1,047,000. Finally, Banque Cantonale Vaudoise boosted its stake in ADC Therapeutics by 410.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 5,100 shares of the company’s stock worth $124,000 after buying an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 47.58% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA, a clinical-stage oncology-focused biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its lead product candidates are loncastuximab tesirine (ADCT-402), an ADC that is in a Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma, and Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL, as well as Phase I/II clinical trial in combination with ibrutinib for relapsed or refractory DLBCL and mantle cell lymphoma; and camidanlumab tesirine (ADCT-301), an ADC that is in a pivotal Phase II clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma and non-Hodgkin lymphoma, and Phase Ib clinical trial for selected advanced solid tumors.

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