Delcath Systems (NASDAQ:DCTH) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Delcath Systems (NASDAQ:DCTH) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks reports.

Several other equities analysts have also issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Delcath Systems in a research note on Friday, August 7th. BTIG Research upped their price objective on Delcath Systems from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised Delcath Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. Finally, Wall Street Zen upgraded Delcath Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Delcath Systems currently has an average rating of “Moderate Buy” and a consensus target price of $23.17.

Delcath Systems Trading Down 0.2%

NASDAQ DCTH opened at $15.38 on Tuesday. The firm has a market capitalization of $533.69 million, a price-to-earnings ratio of 1,539.54 and a beta of 0.60. The firm’s 50 day simple moving average is $15.91 and its 200 day simple moving average is $12.90. Delcath Systems has a 1 year low of $8.12 and a 1 year high of $17.42.

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

Institutional Trading of Delcath Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Delcath Systems by 14.8% during the first 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 in the last quarter. Integrated Wealth Concepts LLC bought a new position in Delcath Systems in the 2nd quarter valued at about $48,000. IFP Advisors Inc bought a new position in Delcath Systems in the 2nd quarter valued at about $52,000. Bank of America Corp DE boosted its stake 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 valued at $536,000 after purchasing an additional 20,249 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Delcath Systems by 100.0% during the 1st quarter. Sei Investments Co. now owns 44,058 shares of the company’s stock valued at $409,000 after purchasing an additional 22,029 shares during the last quarter. Institutional investors own 61.12% of the company’s stock.

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.