Delcath Systems (NASDAQ:DCTH) Receives “Buy” Rating from HC Wainwright

Delcath Systems (NASDAQ:DCTH)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 187.22% from the company’s previous close.

Several other brokerages have also recently weighed in on DCTH. Wall Street Zen cut Delcath Systems from a “buy” rating to a “hold” rating in a report on Sunday, October 12th. Canaccord Genuity Group reissued a “buy” rating and set a $21.00 price objective on shares of Delcath Systems in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Delcath Systems in a report on Monday, December 29th. BTIG Research reiterated a “buy” rating and set a $23.00 price target on shares of Delcath Systems in a report on Tuesday, November 4th. Finally, Craig Hallum reiterated a “buy” rating and issued a $20.00 target price on shares of Delcath Systems in a report on Tuesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.40.

Delcath Systems Stock Performance

Shares of NASDAQ DCTH traded up $0.24 during mid-day trading on Friday, reaching $10.45. The company’s stock had a trading volume of 215,065 shares, compared to its average volume of 474,040. The stock has a 50-day moving average of $9.59 and a two-hundred day moving average of $10.68. The stock has a market capitalization of $368.85 million, a P/E ratio of 1,045.30 and a beta of 0.39. Delcath Systems has a 1-year low of $8.12 and a 1-year high of $18.23.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $23.22 million. Analysts predict that Delcath Systems will post -0.79 EPS for the current fiscal year.

Delcath Systems declared that its board has approved 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 reacquire up to 8.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Gerard J. Michel bought 11,500 shares of Delcath Systems stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average price of $8.53 per share, with a total value of $98,095.00. Following the completion of the acquisition, the chief executive officer directly owned 330,834 shares in the company, valued at $2,822,014.02. The trade was a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Delcath Systems

A number of large investors have recently modified their holdings of DCTH. Rosalind Advisors Inc. raised 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 valued at $44,885,000 after purchasing an additional 400,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Delcath Systems by 2.9% during the third quarter. Vanguard Group Inc. now owns 1,657,428 shares of the company’s stock worth $17,817,000 after purchasing an additional 46,693 shares in the last quarter. Geode Capital Management LLC increased its holdings in Delcath Systems by 128.1% in the second quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock valued at $9,565,000 after buying an additional 394,902 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in Delcath Systems in the third quarter valued at $7,164,000. Finally, Marshall Wace LLP acquired a new stake in Delcath Systems in the second quarter valued at $6,572,000. 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.