ADC Therapeutics (NYSE:ADCT) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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

ADC Therapeutics Price Performance

ADCT stock traded down $0.05 during midday trading on Friday, hitting $1.48. The stock had a trading volume of 106,728 shares, compared to its average volume of 626,474. The company’s 50-day moving average price is $1.67 and its 200 day moving average price is $2.27. The firm has a market cap of $142.62 million, a PE ratio of -0.62 and a beta of 1.51. ADC Therapeutics has a 12-month low of $1.39 and a 12-month high of $5.38.

Analyst Ratings Changes

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

About ADC Therapeutics

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.