Delcath Systems (NASDAQ:DCTH) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Delcath Systems (NASDAQ:DCTH) released its quarterly earnings results on Tuesday. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.19, RTT News reports. The company had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.48 million. Delcath Systems had a negative net margin of 2,079.17% and a negative return on equity of 2,571.64%. During the same quarter last year, the business earned ($0.86) earnings per share.

Delcath Systems Stock Up 2.6 %

Shares of NASDAQ DCTH opened at $4.73 on Wednesday. The company’s 50-day simple moving average is $4.31 and its 200-day simple moving average is $3.83. Delcath Systems has a 52-week low of $2.25 and a 52-week high of $7.99. The firm has a market cap of $104.30 million, a price-to-earnings ratio of -1.38 and a beta of 0.51. The company has a quick ratio of 3.11, a current ratio of 3.30 and a debt-to-equity ratio of 0.08.

Insider Activity

In related news, Director Gil Aharon bought 26,882 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were acquired at an average price of $3.72 per share, for a total transaction of $100,001.04. Following the completion of the transaction, the director now directly owns 1,069,710 shares in the company, valued at $3,979,321.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Delcath Systems

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in shares of Delcath Systems by 107.8% in the first quarter. Tower Research Capital LLC TRC now owns 4,663 shares of the company’s stock worth $26,000 after buying an additional 2,419 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Delcath Systems by 4.8% in the first quarter. Geode Capital Management LLC now owns 62,733 shares of the company’s stock worth $361,000 after buying an additional 2,851 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Delcath Systems by 22.3% in the first quarter. BlackRock Inc. now owns 16,632 shares of the company’s stock worth $96,000 after buying an additional 3,032 shares in the last quarter. Cibc World Market Inc. raised its stake in Delcath Systems by 4.0% during the first quarter. Cibc World Market Inc. now owns 88,751 shares of the company’s stock worth $568,000 after purchasing an additional 3,432 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Delcath Systems by 77.7% during the second quarter. Renaissance Technologies LLC now owns 21,500 shares of the company’s stock worth $125,000 after purchasing an additional 9,400 shares during the period. 61.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright raised their price target on shares of Delcath Systems from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.50.

Delcath Systems Company Profile

Delcath Systems, Inc, an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company's lead product candidate is HEPZATO KIT, a melphalan hydrochloride for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.