Delcath Systems, Inc. (NASDAQ:DCTH) Stock Has Average Price Target of $23.17

Shares of Delcath Systems, Inc. (NASDAQ:DCTH) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $23.17.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Delcath Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 13th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Delcath Systems in a research report on Friday, August 7th. Zacks Research downgraded Delcath Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, BTIG Research boosted their price objective on shares of Delcath Systems from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th.

Delcath Systems Stock Performance

Shares of DCTH opened at $14.37 on Tuesday. Delcath Systems has a fifty-two week low of $8.12 and a fifty-two week high of $17.42. The business’s 50-day moving average is $16.09 and its two-hundred day moving average is $13.23. The company has a market capitalization of $498.64 million, a P/E ratio of 1,438.44 and a beta of 0.60.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.16. The business had revenue of $29.13 million for the quarter, compared to the consensus estimate of $26.25 million. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. Analysts forecast that Delcath Systems will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Delcath Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in Delcath Systems in the 2nd quarter valued at about $1,362,000. Integrated Wealth Concepts LLC purchased a new position in Delcath Systems during the second quarter worth about $48,000. IFP Advisors Inc acquired a new position in shares of Delcath Systems during the 2nd quarter valued at about $52,000. Bank of America Corp DE increased its stake in shares of Delcath Systems by 54.0% during the 1st quarter. Bank of America Corp DE now owns 57,729 shares of the company’s stock valued at $536,000 after acquiring an additional 20,249 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Delcath Systems by 14.8% during the 1st quarter. Royal Bank of Canada now owns 18,383 shares of the company’s stock worth $170,000 after acquiring an additional 2,364 shares during the period. 61.12% of the stock is owned by institutional investors and hedge funds.

About Delcath Systems

Delcath Systems, Inc is a commercial-stage oncology company focused on liver-directed therapies for patients with metastatic cancer. Its technology is designed to deliver high concentrations of chemotherapy directly to the liver while limiting systemic exposure, addressing cancers that are difficult to treat with conventional approaches.

The company’s primary products are HEPZATO (melphalan for injection) and the HEPZATO KIT in the United States, as well as CHEMOSAT in markets outside the United States.