Delcath Systems, Inc. (NASDAQ:DCTH) Receives Average Recommendation of “Moderate Buy” from Analysts

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 stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $22.40.

A number of research analysts have issued reports on DCTH shares. Canaccord Genuity Group restated a “buy” rating and set a $21.00 price target on shares of Delcath Systems in a research note on Tuesday, October 21st. BTIG Research reissued a “buy” rating and set a $23.00 price objective on shares of Delcath Systems in a report on Tuesday, November 4th. Wall Street Zen raised Delcath Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Craig Hallum restated a “buy” rating and issued a $20.00 target price on shares of Delcath Systems in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday, December 29th.

Delcath Systems Stock Performance

Shares of DCTH stock opened at $9.50 on Thursday. Delcath Systems has a fifty-two week low of $8.12 and a fifty-two week high of $18.23. The firm has a market capitalization of $335.48 million, a price-to-earnings ratio of 950.00 and a beta of 0.37. The stock’s 50-day simple moving average is $10.11 and its 200-day simple moving average is $10.30.

Delcath Systems declared that its board has initiated a share repurchase program on Thursday, November 20th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its holdings in shares of Delcath Systems by 5.4% in the 4th quarter. Deutsche Bank AG now owns 24,162 shares of the company’s stock valued at $244,000 after buying an additional 1,248 shares during the period. Goldman Sachs Group Inc. raised its position in Delcath Systems by 116.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 587,678 shares of the company’s stock valued at $5,936,000 after acquiring an additional 315,583 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Delcath Systems by 13.1% in the fourth quarter. Intech Investment Management LLC now owns 17,595 shares of the company’s stock valued at $178,000 after acquiring an additional 2,035 shares during the period. Royce & Associates LP purchased a new stake in Delcath Systems in the 4th quarter worth approximately $1,566,000. Finally, Private Wealth Advisors LLC boosted its position in Delcath Systems by 85.9% in the 4th quarter. Private Wealth Advisors LLC now owns 290,481 shares of the company’s stock worth $2,934,000 after purchasing an additional 134,198 shares in the last quarter. 61.12% of the stock is currently owned by institutional investors and hedge funds.

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.