Guggenheim Issues Pessimistic Forecast for ADC Therapeutics (NYSE:ADCT) Stock Price

ADC Therapeutics (NYSE:ADCT) had its target price decreased by Guggenheim from $10.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 416.61% from the stock’s current price.

ADCT has been the subject of several other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Stephens increased their price target on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.75.

ADC Therapeutics Trading Down 3.9 %

NYSE ADCT opened at $1.36 on Monday. ADC Therapeutics has a 1-year low of $1.28 and a 1-year high of $5.38. The stock’s 50 day moving average is $1.65 and its two-hundred day moving average is $2.23. The company has a market capitalization of $131.01 million, a price-to-earnings ratio of -0.57 and a beta of 1.51.

ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06. The business had revenue of $19.00 million during the quarter, compared to analyst estimates of $19.01 million. On average, analysts predict that ADC Therapeutics will post -1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Woodline Partners LP bought a new stake in ADC Therapeutics in the 4th quarter valued at $3,848,000. Orbimed Advisors LLC lifted its stake in ADC Therapeutics by 31.6% in the 4th quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company’s stock valued at $11,877,000 after acquiring an additional 1,434,650 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $1,426,000. Redmile Group LLC raised its holdings in shares of ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of ADC Therapeutics in the third quarter worth $531,000. Institutional investors own 41.10% of the company’s stock.

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.