Delcath Systems, Inc. (NASDAQ:DCTH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Delcath Systems, Inc. (NASDAQ:DCTH) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.40.

Several research firms have issued reports on DCTH. Wall Street Zen upgraded Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday. BTIG Research restated a “buy” rating and issued a $23.00 price target on shares of Delcath Systems in a research note on Tuesday, November 4th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of Delcath Systems in a research report on Tuesday, October 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Delcath Systems in a report on Tuesday, October 21st. Finally, Stephens cut their target price on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th.

Insider Activity at Delcath Systems

In other news, CEO Gerard J. Michel bought 11,500 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were bought at an average price of $8.53 per share, with a total value of $98,095.00. Following the completion of the transaction, the chief executive officer owned 330,834 shares of the company’s stock, valued at $2,822,014.02. This trade represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.40% of the company’s stock.

Institutional Trading of Delcath Systems

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in Delcath Systems by 34.1% during the 1st quarter. Millennium Management LLC now owns 422,066 shares of the company’s stock worth $5,373,000 after buying an additional 107,391 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Delcath Systems by 58.7% in the first quarter. Goldman Sachs Group Inc. now owns 123,487 shares of the company’s stock valued at $1,572,000 after acquiring an additional 45,695 shares in the last quarter. Palisades Investment Partners LLC increased its position in Delcath Systems by 58.0% during the second quarter. Palisades Investment Partners LLC now owns 270,310 shares of the company’s stock worth $3,676,000 after acquiring an additional 99,226 shares during the period. USA Financial Formulas acquired a new stake in Delcath Systems in the 2nd quarter worth about $25,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Delcath Systems in the 2nd quarter worth about $1,338,000. 61.12% of the stock is currently owned by institutional investors.

Delcath Systems Price Performance

Shares of NASDAQ DCTH opened at $10.34 on Friday. The business has a 50-day moving average of $9.60 and a 200-day moving average of $10.64. The stock has a market capitalization of $365.11 million, a price-to-earnings ratio of 1,034.00 and a beta of 0.39. Delcath Systems has a fifty-two week low of $8.12 and a fifty-two week high of $18.23.

Delcath Systems (NASDAQ:DCTH) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Delcath Systems had a return on equity of 7.02% and a net margin of 1.50%.The company had revenue of $20.56 million during the quarter, compared to the consensus estimate of $23.22 million. On average, sell-side analysts expect that Delcath Systems will post -0.79 EPS for the current year.

Delcath Systems announced that its Board of Directors has initiated a stock buyback program on Thursday, November 20th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Delcath Systems

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company’s core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.