Delcath Systems (NASDAQ:DCTH) Upgraded at StockNews.com

StockNews.com upgraded shares of Delcath Systems (NASDAQ:DCTH) from a sell rating to a hold rating in a report released on Friday.

A number of other research firms have also recently commented on DCTH. Craig Hallum assumed coverage on Delcath Systems in a research note on Friday, June 28th. They issued a “buy” rating and a $18.00 price target for the company. Stephens reiterated a “buy” rating on shares of Delcath Systems in a research note on Friday, October 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $21.00 price target on shares of Delcath Systems in a research note on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Delcath Systems in a research note on Friday, October 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Delcath Systems has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Delcath Systems Price Performance

Shares of DCTH stock opened at $10.68 on Friday. Delcath Systems has a 1-year low of $2.25 and a 1-year high of $11.74. The stock’s 50-day moving average is $9.47 and its 200 day moving average is $7.96. The company has a market cap of $296.75 million, a P/E ratio of -4.03 and a beta of 0.78.

Delcath Systems (NASDAQ:DCTH) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). Delcath Systems had a negative net margin of 474.22% and a negative return on equity of 312.48%. The company had revenue of $7.77 million for the quarter, compared to the consensus estimate of $5.00 million. During the same period in the previous year, the business earned ($0.58) EPS. On average, analysts anticipate that Delcath Systems will post -1.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in Delcath Systems during the second quarter valued at approximately $694,000. Vanguard Group Inc. raised its position in Delcath Systems by 31.0% during the first quarter. Vanguard Group Inc. now owns 683,686 shares of the company’s stock valued at $3,261,000 after acquiring an additional 161,678 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Delcath Systems during the second quarter valued at approximately $370,000. Shellback Capital LP purchased a new position in Delcath Systems during the second quarter valued at approximately $1,353,000. Finally, Legato Capital Management LLC purchased a new position in Delcath Systems during the second quarter valued at approximately $966,000. 61.12% of the stock is currently owned by hedge funds and other institutional investors.

About Delcath Systems

Delcath Systems, Inc, an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company’s lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.