Delcath Systems (NASDAQ:DCTH) Price Target Raised to $21.00 at BTIG Research

Delcath Systems (NASDAQ:DCTH) had its price target increased by investment analysts at BTIG Research from $17.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 40.00% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Zacks Research upgraded Delcath Systems from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings raised Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.83.

Delcath Systems Trading Up 18.8%

Shares of DCTH traded up $2.37 during trading hours on Thursday, reaching $15.00. 2,244,794 shares of the stock traded hands, compared to its average volume of 462,732. The stock has a fifty day simple moving average of $12.18 and a 200 day simple moving average of $10.81. Delcath Systems has a 52 week low of $8.12 and a 52 week high of $15.62. The company has a market cap of $517.83 million, a price-to-earnings ratio of 1,497.00 and a beta of 0.52.

Delcath Systems (NASDAQ:DCTH) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.16. The business had revenue of $29.13 million during the quarter, compared to the consensus estimate of $26.25 million. Delcath Systems had a net margin of 0.62% and a return on equity of 0.51%. Analysts predict that Delcath Systems will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in shares of Delcath Systems during the 2nd quarter worth approximately $26,000. Russell Investments Group Ltd. purchased a new position in Delcath Systems in the third quarter valued at approximately $29,000. Tower Research Capital LLC TRC purchased a new position in Delcath Systems in the second quarter valued at approximately $40,000. Legal & General Group Plc bought a new position in Delcath Systems during the second quarter valued at $46,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Delcath Systems in the second quarter worth $151,000. 61.12% of the stock is owned by institutional investors.

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.