Delcath Systems (NASDAQ:DCTH) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Delcath Systems (NASDAQ:DCTH) from a hold rating to a buy rating in a research note published on Saturday.

A number of other equities research analysts have also weighed in on DCTH. Canaccord Genuity Group reiterated a “buy” rating and set a $21.00 target price on shares of Delcath Systems in a research note on Tuesday, October 21st. BTIG Research reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Delcath Systems in a report on Tuesday, November 4th. Craig Hallum reissued a “buy” rating and issued a $20.00 target price on shares of Delcath Systems in a report on Tuesday, October 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a research report on Monday, December 29th. Finally, Stephens cut their price target on Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Delcath Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

Delcath Systems Stock Performance

DCTH opened at $10.34 on Friday. The company’s 50-day simple moving average is $9.60 and its two-hundred day simple moving average is $10.64. The stock has a market capitalization of $365.11 million, a P/E ratio of 1,034.00 and a beta of 0.39. Delcath Systems has a 52-week low of $8.12 and a 52-week high of $18.23.

Delcath Systems (NASDAQ:DCTH) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $20.56 million during the quarter, compared to analyst estimates of $23.22 million. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. Research analysts forecast that Delcath Systems will post -0.79 EPS for the current fiscal year.

Delcath Systems declared that its board has approved a share repurchase plan on Thursday, November 20th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to purchase up to 8.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Delcath Systems

In related news, CEO Gerard J. Michel purchased 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average price of $8.53 per share, for a total transaction of $98,095.00. Following the completion of the transaction, the chief executive officer owned 330,834 shares in the company, valued at approximately $2,822,014.02. The trade was a 3.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Delcath Systems

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC increased its stake in Delcath Systems by 34.1% in the first quarter. Millennium Management LLC now owns 422,066 shares of the company’s stock worth $5,373,000 after purchasing an additional 107,391 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Delcath Systems by 58.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 123,487 shares of the company’s stock worth $1,572,000 after purchasing an additional 45,695 shares during the last quarter. Palisades Investment Partners LLC raised its stake in shares of Delcath Systems by 58.0% during the 2nd quarter. Palisades Investment Partners LLC now owns 270,310 shares of the company’s stock worth $3,676,000 after acquiring an additional 99,226 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Delcath Systems in the 2nd quarter worth $25,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Delcath Systems in the 2nd quarter valued at approximately $1,338,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

Delcath Systems Company Profile

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.