Analysts Set Expectations for ADCT FY2024 Earnings

ADC Therapeutics SA (NYSE:ADCT) – Equities researchers at HC Wainwright issued their FY2024 earnings per share estimates for ADC Therapeutics in a report released on Wednesday, December 11th. HC Wainwright analyst R. Burns anticipates that the company will earn ($1.75) per share for the year. HC Wainwright has a “Buy” rating on the stock. The consensus estimate for ADC Therapeutics’ current full-year earnings is ($1.67) per share. HC Wainwright also issued estimates for ADC Therapeutics’ Q4 2024 earnings at ($0.41) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.44) EPS and FY2025 earnings at ($1.70) EPS.

ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The company had revenue of $18.46 million for the quarter, compared to analysts’ expectations of $18.76 million. During the same quarter in the previous year, the business earned ($0.58) EPS.

Several other research firms have also recently commented on ADCT. Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research note on Thursday. Stephens began coverage on ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADC Therapeutics currently has an average rating of “Buy” and an average price target of $8.00.

ADC Therapeutics Stock Down 10.8 %

Shares of NYSE:ADCT opened at $1.98 on Friday. ADC Therapeutics has a twelve month low of $1.01 and a twelve month high of $6.04. The company has a market cap of $191.45 million, a price-to-earnings ratio of -0.83 and a beta of 1.52. The business has a 50 day moving average price of $2.73 and a 200 day moving average price of $3.00.

Insider Transactions at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc sold 25,352 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total value of $52,478.64. Following the completion of the transaction, the insider now owns 15,566,731 shares in the company, valued at $32,223,133.17. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On ADC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Redmile Group LLC raised its position in shares of ADC Therapeutics by 2.6% during the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after acquiring an additional 400,000 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in ADC Therapeutics during the second quarter valued at approximately $1,500,000. The Manufacturers Life Insurance Company bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at $85,000. Bank of New York Mellon Corp bought a new position in shares of ADC Therapeutics during the 2nd quarter valued at about $648,000. Finally, Acadian Asset Management LLC bought a new stake in shares of ADC Therapeutics in the second quarter valued at about $51,000. 41.10% of the stock is owned by institutional investors and hedge funds.

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.