HC Wainwright & Co. Maintains Buy on ADC Therapeutics, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Robert Burns has maintained a Buy rating on ADC Therapeutics (NYSE:ADCT) but has significantly lowered the price target from $12 to $3.
November 20, 2023 | 3:31 pm
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NEGATIVE IMPACT
ADC Therapeutics' Buy rating is maintained by HC Wainwright & Co., but the price target is reduced from $12 to $3, indicating a potential downside according to the analyst.
The reduction in price target from $12 to $3 by a reputable analyst firm like HC Wainwright & Co. suggests a significant reassessment of ADC Therapeutics' valuation and future prospects. This could lead to a negative investor sentiment and a potential decrease in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100