Delcath Systems (NASDAQ:DCTH) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Delcath Systems to “hold” from “strong buy,” although the broader analyst consensus remains “Moderate Buy,” with five Buy ratings and two Hold ratings.
• Other analysts remain optimistic: BTIG raised its price target to $21, while HC Wainwright increased its target to $32; the consensus price target is $23.17.
• Delcath reported quarterly revenue of $29.13 million and EPS of $0.07, beating estimates, while the stock opened at $15.38 and trades near its 12-month high of $17.42.

Delcath Systems (NASDAQ:DCTH - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks reports.

Several other brokerages have also recently issued reports on DCTH. BTIG Research boosted their price target on shares of Delcath Systems from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Delcath Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 28th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price objective (up from $30.00) on shares of Delcath Systems in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Delcath Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.17.

Delcath Systems Stock Down 0.2%

NASDAQ:DCTH opened at $15.38 on Tuesday. The firm's fifty day simple moving average is $15.91 and its 200 day simple moving average is $12.90. The stock has a market cap of $533.69 million, a P/E ratio of 1,539.54 and a beta of 0.60. Delcath Systems has a twelve month low of $8.12 and a twelve month high of $17.42.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.16. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. The business had revenue of $29.13 million during the quarter, compared to analyst estimates of $26.25 million. On average, analysts expect that Delcath Systems will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in Delcath Systems by 14.8% in the first quarter. Royal Bank of Canada now owns 18,383 shares of the company's stock worth $170,000 after purchasing an additional 2,364 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Delcath Systems in the 2nd quarter worth approximately $48,000. IFP Advisors Inc purchased a new stake in Delcath Systems during the 2nd quarter valued at $52,000. Bank of America Corp DE raised its stake in Delcath Systems by 54.0% during the 1st quarter. Bank of America Corp DE now owns 57,729 shares of the company's stock valued at $536,000 after buying an additional 20,249 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Delcath Systems by 100.0% during the 1st quarter. Sei Investments Co. now owns 44,058 shares of the company's stock valued at $409,000 after buying an additional 22,029 shares during the period. 61.12% of the stock is currently owned by institutional investors.

About Delcath Systems

Delcath Systems, Inc is a commercial-stage oncology company focused on liver-directed therapies for patients with metastatic cancer. Its technology is designed to deliver high concentrations of chemotherapy directly to the liver while limiting systemic exposure, addressing cancers that are difficult to treat with conventional approaches.

The company's primary products are HEPZATO (melphalan for injection) and the HEPZATO KIT in the United States, as well as CHEMOSAT in markets outside the United States.

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