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

ADC Therapeutics (NYSE:ADCT) issued its earnings results on Monday. The company reported ($0.56) EPS 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 firm had revenue of $18.05 million during the quarter, compared to the consensus estimate of $18.19 million. During the same quarter in the previous year, the firm earned ($0.74) earnings per share.

ADC Therapeutics Stock Down 2.7 %

Shares of ADCT stock traded down $0.13 during trading hours on Wednesday, hitting $4.70. 94,805 shares of the company’s stock traded hands, compared to its average volume of 739,635. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04. The stock has a market cap of $389.21 million, a PE ratio of -1.65 and a beta of 1.69. The stock’s 50 day simple moving average is $4.58 and its 200 day simple moving average is $2.87.

Analyst Ratings Changes

ADCT has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. HC Wainwright lowered their price target on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday. Finally, 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.