Delcath Systems (NASDAQ:DCTH) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Delcath Systems has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• Despite the downgrade, HC Wainwright raised their price target on Delcath Systems from $29.00 to $31.00, indicating some continued confidence in its potential for growth.
• Delcath Systems recently reported earnings that exceeded expectations, with a quarterly EPS of $0.07 against a consensus estimate of $0.02, alongside revenue of $24.16 million.

Delcath Systems (NASDAQ:DCTH - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

DCTH has been the subject of a number of other reports. HC Wainwright boosted their price objective on Delcath Systems from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Weiss Ratings restated a "hold (c-)" rating on shares of Delcath Systems in a research note on Wednesday. Finally, Stephens restated an "overweight" rating and issued a $25.00 target price on shares of Delcath Systems in a research note on Monday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Delcath Systems currently has an average rating of "Moderate Buy" and an average price target of $24.50.

Delcath Systems Stock Performance

Shares of DCTH opened at $10.46 on Friday. The stock has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $12.45. The firm has a market capitalization of $365.89 million, a P/E ratio of 209.20 and a beta of 0.84. Delcath Systems has a 52 week low of $8.16 and a 52 week high of $18.23.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. The firm had revenue of $24.16 million during the quarter, compared to analyst estimates of $22.84 million. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%. On average, equities analysts forecast that Delcath Systems will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Delcath Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. USA Financial Formulas purchased a new position in Delcath Systems in the second quarter valued at approximately $25,000. California State Teachers Retirement System purchased a new position in Delcath Systems in the second quarter valued at approximately $26,000. Tower Research Capital LLC TRC purchased a new position in Delcath Systems in the second quarter valued at approximately $40,000. Ameritas Investment Partners Inc. purchased a new position in Delcath Systems in the second quarter valued at approximately $42,000. Finally, Legal & General Group Plc purchased a new position in Delcath Systems in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 61.12% of the company's stock.

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.

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