BTIG Research Forecasts Strong Price Appreciation for Delcath Systems (NASDAQ:DCTH) Stock

Key Points

• BTIG Research raised its price target on Delcath Systems from $21 to $25 and maintained a Buy rating, implying about 30% upside from the price cited in the report.
• Analyst views are mixed, but MarketBeat’s consensus is “Moderate Buy,” with an average price target of $28.
• Delcath reported quarterly EPS of $0.17, beating the consensus estimate of a $0.09 loss, and revenue of $35.1 million versus estimates of $26.0 million.

Delcath Systems (NASDAQ:DCTH - Get Free Report) had its target price lifted by investment analysts at BTIG Research from $21.00 to $25.00 in a report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target would indicate a potential upside of 30.10% from the stock's current price.

Several other research firms have also recently issued reports on DCTH. Weiss Ratings cut shares of Delcath Systems from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, October 28th. HC Wainwright reiterated a "buy" rating and set a $32.00 price objective (up from $30.00) on shares of Delcath Systems in a research note on Friday, August 7th. Zacks Research lowered shares of Delcath Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. Finally, Wall Street Zen raised shares of Delcath Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Delcath Systems presently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

Delcath Systems Price Performance

DCTH traded up $4.29 on Monday, reaching $19.22. The company's stock had a trading volume of 974,868 shares, compared to its average volume of 456,424. The stock has a market cap of $666.78 million, a price-to-earnings ratio of 1,922.02 and a beta of 0.62. Delcath Systems has a 1 year low of $8.12 and a 1 year high of $19.35. The business's 50 day moving average is $15.45 and its 200 day moving average is $12.44.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.26. Delcath Systems had a return on equity of 0.46% and a net margin of 0.56%. The firm had revenue of $35.10 million during the quarter, compared to analyst estimates of $25.99 million. As a group, research analysts forecast that Delcath Systems will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of Delcath Systems by 31.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 88,727 shares of the company's stock worth $1,417,000 after buying an additional 21,069 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Delcath Systems by 30.3% in the 3rd quarter. Alps Advisors Inc. now owns 45,640 shares of the company's stock valued at $729,000 after buying an additional 10,600 shares during the period. Kopp Family Office LLC bought a new stake in shares of Delcath Systems during the 3rd quarter valued at about $450,000. Integrated Wealth Concepts LLC bought a new stake in shares of Delcath Systems during the 2nd quarter valued at about $48,000. Finally, IFP Advisors Inc bought a new stake in shares of Delcath Systems during the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 61.12% of the company's stock.

Delcath Systems Company Profile

Delcath Systems, Inc is a medical technology company focused on liver-directed cancer treatments. The company develops and commercializes systems designed to deliver high concentrations of chemotherapy to the liver while limiting exposure to the rest of the body.

Its primary product in the United States is the HEPZATO KIT, a liver-directed therapy that combines the company's proprietary hepatic delivery system with melphalan hydrochloride for injection. HEPZATO is approved for the treatment of adult patients with unresectable metastatic uveal melanoma involving the liver, without extrahepatic disease or with limited extrahepatic disease that is not clinically significant.

Outside the United States, Delcath markets the corresponding system under the CHEMOSAT brand.

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