Cantor Fitzgerald Starts ADC Therapeutics (ADCT) at Overweight

Cantor Fitzgerald analyst Brian Cheng initiates coverage on ADC Therapeutics (NYSE: ADCT) with a Overweight rating and a price target of $46.00.

The analyst commented, "We initiate coverage on ADC Therapeutics (ADCT) at Overweight with a $46 PT. ADCT is a commercial-stage biotech company armed with an arsenal of innovative antibody drug conjugates, which are tumor-seeking missiles that identify and kill cancer cells. We believe the current share price represents an attractive entry point for investors based on strong underlying fundamentals. We think the company's extensive pipeline portfolio is largely underappreciated as the floor of its valuation is well-supported by the growing revenue stream from Zynlonta sales. Against the backdrop of its first approved drug Zynlonta, we think the rest of the portfolio is already partially de-risked and has the potential to expand beyond the initial approved cancer indication. Further validation and advances in any of its multi-prong approaches near term will also drive significant upside to its valuation, in our opinion."

For an analyst ratings summary and ratings history on ADC Therapeutics click here. For more ratings news on ADC Therapeutics click here.

Shares of ADC Therapeutics closed at $23.18 yesterday.

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