Guggenheim lowered the firm’s price target on ADC Therapeutics (ADCT) to $7 from $10 and keeps a Buy rating on the shares. Q4 results were largely consistent with prior disclosures, though Zynlonta sales of $16.4M came in below Street consensus, the analyst tells investors. The firm is updating its model to reflect a slightly more conservative timeline for potential Zynlonta label expansion into second-line Diffuse Large B-Cell Lymphoma as well as Q4 financial results.
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