ADC Therapeutics (NYSE:ADCT) Earns Buy Rating from Analysts at Guggenheim

Analysts at Guggenheim initiated coverage on shares of ADC Therapeutics (NYSE:ADCT) in a report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $11.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 161.90% from the company’s current price.

Several other brokerages have also weighed in on ADCT. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, March 6th. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.50.

ADC Therapeutics Stock Down 3.4 %

NYSE ADCT opened at $4.20 on Thursday. The firm’s fifty day moving average price is $4.09 and its two-hundred day moving average price is $2.12. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds have recently bought and sold shares of ADCT. Prospera Financial Services Inc bought a new position in ADC Therapeutics in the 1st quarter valued at about $25,000. HRT Financial LP bought a new position in ADC Therapeutics in the 1st quarter valued at about $31,000. Saxony Capital Management LLC bought a new position in ADC Therapeutics in the 4th quarter valued at about $34,000. Quantbot Technologies LP bought a new position in ADC Therapeutics in the 2nd quarter valued at about $38,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of ADC Therapeutics by 1,253.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after purchasing an additional 8,773 shares during the last quarter. 41.10% of the stock is owned by institutional investors.

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.