H.C. Wainwright Thinks ADC Therapeutics’ Stock is Going to Recover

In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on ADC Therapeutics (ADCTResearch Report), with a price target of $55.00. The company’s shares closed last Tuesday at $16.94, close to its 52-week low of $16.35.

According to TipRanks.com, Burns has 0 stars on 0-5 stars ranking scale with an average return of -18.3% and a 19.8% success rate. Burns covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Black Diamond Therapeutics, and Turning Point Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ADC Therapeutics with a $44.50 average price target.

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Based on ADC Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $13.15 million and GAAP net loss of $71.55 million. In comparison, last year the company had a GAAP net loss of $20.33 million.

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ADC Therapeutics SA is a United States-based clinical-stage oncology-focused biotechnology company. It is involved in the development of antibody-drug conjugates for patients suffering from hematological malignancies and solid tumors. The company’s product candidate includes ADCT-402, ADCT-301, ADCT-602, and ADCT-601.

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