ADC Therapeutics Reports Quarterly Earnings

ADC Therapeutics (NYSE:ADCT) announced its quarterly earnings on Thursday. The company reported earnings of ($0.29) per share (EPS) for the quarter, surpassing the consensus estimate of ($0.35) by $0.06, according to Zacks. During the quarter, ADC Therapeutics generated revenue of $19.00 million, aligning closely with analyst estimates of $19.01 million.

Stock Performance

On Friday, NYSE:ADCT saw a decline of 3.0% during trading, dropping $0.05 to a price of $1.48. A total of 81,554 shares changed hands, which is below the average volume of 614,205 shares. The company's current market cap stands at $142.62 million, with a price-to-earnings ratio of -0.62 and a beta of 1.51. Over the past year, ADC Therapeutics has experienced a low of $1.39 and a high of $5.38.

Analyst Recommendations

Various research firms have provided insights on ADCT's stock. Cantor Fitzgerald maintained an "overweight" rating for ADC Therapeutics in a report published on March 7th. Stephens increased their target price for the company from $6.00 to $8.00, also giving the stock an "overweight" rating on February 24th. Guggenheim reiterated a "buy" rating and set a target price of $10.00 for ADC Therapeutics on December 12th. Additionally, HC Wainwright reaffirmed a "buy" rating with an $8.00 price target in a research note on January 6th. The consensus from five analysts has given the stock a "Buy" rating with an average target price of $8.50.

Overview of ADC Therapeutics

ADC Therapeutics SA is focused on advancing its unique antibody drug conjugate (ADC) technology. The company's goal is to revolutionize treatment methods for patients with blood cancers and solid tumors. Their leading product is ZYNLONTA, a CD19-targeted ADC that has received accelerated approval from the U.S. regulatory authorities.

Investment Considerations

Before making investment decisions involving ADC Therapeutics, it is crucial to consider all available information. Researching and staying updated on Wall Street's top-rated analysts and the stocks they favor can provide valuable insights. Investors should note that although ADC Therapeutics has received a Buy rating, there may be other stocks that analysts believe to be preferable for investment.

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