Delcath Systems (NASDAQ:DCTH) Raised to Strong-Buy at Zacks Research

Delcath Systems (NASDAQ:DCTH) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

Several other research firms have also recently commented on DCTH. Wall Street Zen raised shares of Delcath Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. HC Wainwright upped their target price on shares of Delcath Systems from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings raised Delcath Systems from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday. Finally, BTIG Research boosted their price target on Delcath Systems from $21.00 to $25.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $29.33.

Delcath Systems Stock Performance

NASDAQ DCTH opened at $21.38 on Wednesday. The stock has a market cap of $743.81 million, a price-to-earnings ratio of 133.62 and a beta of 0.62. The business has a 50 day simple moving average of $15.80 and a 200 day simple moving average of $12.65. Delcath Systems has a 52-week low of $8.12 and a 52-week high of $22.51.

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

Institutional Trading of Delcath Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Delcath Systems by 14.8% in the first quarter. Royal Bank of Canada now owns 18,383 shares of the company’s stock worth $170,000 after purchasing an additional 2,364 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Delcath Systems in the second quarter valued at $48,000. IFP Advisors Inc bought a new position in Delcath Systems in the second quarter valued at $52,000. Alps Advisors Inc. increased its stake in Delcath Systems by 30.3% in 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 last quarter. Finally, Bank of America Corp DE increased its stake in Delcath Systems by 54.0% in the 1st quarter. Bank of America Corp DE now owns 57,729 shares of the company’s stock valued at $536,000 after buying an additional 20,249 shares during the last quarter. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Key Delcath Systems News

Investors following DCTH have been watching these news items:

• Neutral Sentiment: Trading volume increased following analyst-upgrade news, indicating heightened investor attention, though volume alone does not establish the direction of future trading. Article on trading volume and analyst upgrade
• Neutral Sentiment: Delcath is slated to appear on “Health Uncensored with Dr. Drew” in a segment about liver-directed cancer treatment. The coverage may raise awareness but is not a clinical or financial update. BioSpace announcement
• Negative Sentiment: An analyst reduced a Q2 EPS forecast, a counterpoint to HC Wainwright’s recent upward estimate revisions. The available report listing does not provide the revised figure. Article on reduced Q2 EPS forecast

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.