Delcath Systems (NASDAQ:DCTH) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Delcath Systems (NASDAQ:DCTH) in a report released on Friday, Benzinga reports. Canaccord Genuity Group currently has a $21.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Stephens reiterated an “overweight” rating and set a $25.00 price target on shares of Delcath Systems in a research report on Tuesday, August 6th. StockNews.com cut shares of Delcath Systems from a “hold” rating to a “sell” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Delcath Systems in a research report on Friday. Finally, Craig Hallum began coverage on shares of Delcath Systems in a research report on Friday, June 28th. They set a “buy” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Delcath Systems Stock Performance

Shares of Delcath Systems stock opened at $11.28 on Friday. Delcath Systems has a one year low of $2.25 and a one year high of $11.74. The company has a market cap of $313.43 million, a price-to-earnings ratio of -4.26 and a beta of 0.78. The business’s 50 day moving average price is $9.12 and its 200 day moving average price is $7.75.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Levin Capital Strategies L.P. boosted its stake in shares of Delcath Systems by 12.2% in the first quarter. Levin Capital Strategies L.P. now owns 54,969 shares of the company’s stock valued at $262,000 after purchasing an additional 5,969 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Delcath Systems in the second quarter worth approximately $370,000. Renaissance Technologies LLC purchased a new position in Delcath Systems in the second quarter worth approximately $694,000. Marshall Wace LLP lifted its stake in Delcath Systems by 7.0% in the second quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock worth $776,000 after acquiring an additional 6,066 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in Delcath Systems in the second quarter worth approximately $966,000. Hedge funds and other institutional investors own 61.12% of the company’s stock.

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.