ADC Therapeutics (NYSE:ADCT) Issues Earnings Results, Beats Expectations By $0.06 EPS

ADC Therapeutics (NYSE:ADCT) announced its earnings results on Thursday. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06, Zacks reports. The business had revenue of $19.00 million for the quarter, compared to analysts’ expectations of $19.01 million.

ADC Therapeutics Stock Performance

NYSE ADCT traded down $0.05 on Friday, reaching $1.48. 85,013 shares of the stock traded hands, compared to its average volume of 452,059. ADC Therapeutics has a 12 month low of $1.39 and a 12 month high of $5.38. The company has a market cap of $142.62 million, a price-to-earnings ratio of -0.62 and a beta of 1.51. The company has a fifty day moving average price of $1.67 and a 200-day moving average price of $2.27.

Analyst Ratings Changes

ADCT has been the subject of a number of research analyst reports. Stephens raised their price target on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Monday, January 6th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research note on Thursday, December 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.50.

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.