Delcath Systems (NASDAQ:DCTH) Stock Rating Raised to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Delcath Systems (NASDAQ:DCTH) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on DCTH. Zacks Research raised Delcath Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. HC Wainwright increased their target price on shares of Delcath Systems from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 10th. Weiss Ratings upgraded shares of Delcath Systems from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, BTIG Research raised their price target on shares of Delcath Systems from $21.00 to $25.00 and gave the company a “buy” rating in a report on Monday, November 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $29.33.

Delcath Systems Stock Down 3.9%

Shares of DCTH stock traded down $0.83 on Friday, reaching $20.55. 675,186 shares of the stock were exchanged, compared to its average volume of 734,330. The stock has a market cap of $714.93 million, a P/E ratio of 128.44 and a beta of 0.62. The firm has a 50 day moving average of $15.88 and a two-hundred day moving average of $12.70. Delcath Systems has a 1-year low of $8.12 and a 1-year high of $22.51.

Delcath Systems (NASDAQ:DCTH) last issued its earnings results on Monday, November 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.26. Delcath Systems had a return on equity of 5.56% and a net margin of 6.05%. The business had revenue of $35.10 million for the quarter, compared to analyst estimates of $25.99 million. On average, equities research analysts predict that Delcath Systems will post 0.13 EPS for the current fiscal year.

Insider Transactions at Delcath Systems

In related news, Director Bridget A. Martell sold 22,500 shares of the stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $21.71, for a total value of $488,475.00. Following the completion of the sale, the director directly owned 22,500 shares in the company, valued at approximately $488,475. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DCTH. Marshall Wace LLP boosted its position in shares of Delcath Systems by 69.8% in the third quarter. Marshall Wace LLP now owns 371,893 shares of the company’s stock worth $5,939,000 after buying an additional 152,930 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Delcath Systems by 31.1% in the third quarter. Russell Investments Group Ltd. now owns 88,727 shares of the company’s stock valued at $1,417,000 after buying an additional 21,069 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Delcath Systems during the 2nd quarter valued at about $1,362,000. Alps Advisors Inc. raised its holdings in shares of Delcath Systems by 30.3% during the 3rd quarter. Alps Advisors Inc. now owns 45,640 shares of the company’s stock valued at $729,000 after buying an additional 10,600 shares during the period. Finally, Bank of America Corp DE lifted its position in Delcath Systems by 54.0% during the 1st quarter. Bank of America Corp DE now owns 57,729 shares of the company’s stock worth $536,000 after acquiring an additional 20,249 shares in the last quarter. Institutional investors and hedge funds own 61.12% of the company’s stock.

Recent Delcath Systems Headlines

These are some of the DCTH headlines that stood out recently:

• Positive Sentiment: Zacks Research upgraded DCTH from “hold” to “strong-buy.” Zacks also cited the stock’s recent price strength and momentum, while noting that estimate revisions may support the trend. Zacks price-strength article
• Positive Sentiment: Recent coverage highlighted better-than-expected earnings; the provided results show EPS of $0.17 versus a $0.09 loss expected and revenue of $35.1 million versus a $26.0 million consensus. Earnings coverage
• Neutral Sentiment: Delcath will be featured on “Health Uncensored with Dr. Drew” in a segment about liver-directed cancer treatment. The coverage may raise awareness, but no direct commercial or financial impact was disclosed. BioSpace announcement

Delcath Systems Company Profile

Delcath Systems, Inc. is an oncology company focused on liver-directed treatments for cancers that have spread to the liver. Its technology uses percutaneous hepatic perfusion, a procedure that temporarily isolates the liver’s blood supply and circulates chemotherapy through the organ before filtering the blood and returning it to the patient. The company’s HEPZATO KIT combines melphalan with a specialized delivery system. The U.S. Food and Drug Administration approved it for certain adults with unresectable metastatic uveal melanoma involving the liver.