Delcath Systems, Inc. (NASDAQ:DCTH) Receives Average Rating of “Moderate Buy” from Analysts

Delcath Systems, Inc. (NASDAQ:DCTH) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.40.

DCTH has been the subject of a number of research analyst reports. HC Wainwright set a $30.00 price objective on shares of Delcath Systems and gave the company a “buy” rating in a research report on Monday, October 20th. Stephens cut their target price 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. BTIG Research reaffirmed a “buy” rating and issued a $23.00 target price on shares of Delcath Systems in a research report on Tuesday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $21.00 price target on shares of Delcath Systems in a research note on Tuesday, October 21st. Finally, Craig Hallum restated a “buy” rating and issued a $20.00 price objective on shares of Delcath Systems in a research note on Tuesday, October 21st.

Insider Buying and Selling

In related news, CEO Gerard J. Michel acquired 11,500 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were bought at an average cost of $8.53 per share, with a total value of $98,095.00. Following the completion of the acquisition, the chief executive officer owned 330,834 shares of the company’s stock, valued at $2,822,014.02. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Delcath Systems

Several institutional investors have recently bought and sold shares of DCTH. Nantahala Capital Management LLC bought a new position in Delcath Systems during the 3rd quarter valued at about $7,164,000. Marshall Wace LLP acquired a new stake in shares of Delcath Systems during the second quarter worth approximately $6,572,000. Divisadero Street Capital Management LP bought a new position in shares of Delcath Systems in the third quarter valued at approximately $5,119,000. Rosalind Advisors Inc. boosted its holdings in shares of Delcath Systems by 13.8% in the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock worth $44,885,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in Delcath Systems during the 1st quarter worth approximately $5,084,000. Institutional investors and hedge funds own 61.12% of the company’s stock.

Delcath Systems Stock Performance

Shares of NASDAQ DCTH opened at $10.03 on Wednesday. The firm has a market cap of $354.16 million, a price-to-earnings ratio of 1,003.00 and a beta of 0.41. The business’s 50-day simple moving average is $9.81 and its 200-day simple moving average is $11.26. 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 earnings results on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. The firm had revenue of $20.56 million for the quarter, compared to the consensus estimate of $23.22 million. As a group, equities research analysts forecast that Delcath Systems will post -0.79 earnings per share for the current year.

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

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 for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.