BTIG Research Cuts Delcath Systems (NASDAQ:DCTH) Price Target to $19.00

Delcath Systems (NASDAQ:DCTH) had its target price decreased by research analysts at BTIG Research from $23.00 to $19.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 107.20% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Delcath Systems in a report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Delcath Systems in a research report on Friday, January 9th. Wall Street Zen upgraded Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Stephens reduced 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Delcath Systems Trading Down 10.2%

Shares of NASDAQ:DCTH traded down $1.04 during trading on Thursday, hitting $9.17. 825,260 shares of the company were exchanged, compared to its average volume of 497,457. Delcath Systems has a fifty-two week low of $8.12 and a fifty-two week high of $18.23. The stock has a market cap of $323.79 million, a price-to-earnings ratio of 918.00 and a beta of 0.37. The firm has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $10.22.

Delcath Systems (NASDAQ:DCTH) last released its earnings results on Thursday, March 5th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $20.73 million during the quarter, compared to analysts’ expectations of $20.35 million. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. As a group, research analysts predict that Delcath Systems will post -0.79 EPS for the current year.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in Delcath Systems during the 2nd quarter valued at $26,000. Russell Investments Group Ltd. bought a new position in Delcath Systems during the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC purchased a new position in Delcath Systems during the 2nd quarter worth $40,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Delcath Systems in the second quarter valued at about $42,000. Finally, Legal & General Group Plc purchased a new stake in Delcath Systems in the 2nd quarter valued at about $46,000. 61.12% of the stock is owned by institutional investors and hedge funds.

About Delcath Systems

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.