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Adc Therapeutics Sa Down 1.37% To $7.94 After Earnings Beat

Tuesday, August 09, 2022 02:04 PM | InvestorsObserver Analysts

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Adc Therapeutics Sa Down 1.37% To $7.94 After Earnings Beat

ADC Therapeutics SA (ADCT) reported better than expected earnings this morning for Q2 2022.

Adc Therapeutics Sa's earnings came in at an EPS loss of $0.73 per share, 20.00% higher than estimates for an EPS loss of $0.91 per share. The firm's loss per share expanded by 4% since reporting a loss of $0.7 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $20.5 million. The Healthcare company missed on those expectations for its second quarter with revenue of $17.3 million, a negative revenue surprise of $3.2 million (16%). The firm managed 360% growth year-over-year due to Adc Therapeutics Sa reporting quarterly revenue of $3.8 million in its year-ago quarter. Adc Therapeutics Sa achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 1.37% to $7.94 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Adc Therapeutics Sa a Bullish Sentiment Rank from InvestorsObserver.

Adc Therapeutics Sa has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 19, putting Adc Therapeutics Sa in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $5.52 on June 16, 2022 and set a 52-week high on November 2, 2021 at $32.

ADC Therapeutics SA is a commercial-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 ZYNLONTA, camidanlumab tesirine, ADCT-602, ADCT-601, ADCT-901, ADCT-701 and ADCT-212.

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