Delcath Systems (NASDAQ:DCTH) Price Target Raised to $21.00 at BTIG Research

Key Points

• BTIG Research raised Delcath Systems’ price target to $21 from $17 while maintaining a “Buy” rating, implying approximately 40% upside from the reported $15 share price.
• Delcath shares rose 18.8% to $15, with trading volume significantly above average. The stock’s broader analyst consensus is “Moderate Buy,” with an average target price of $22.83.
• The company exceeded quarterly expectations, reporting $0.07 in earnings per share versus a projected $0.09 loss and revenue of $29.13 million versus the $26.25 million consensus estimate.

Delcath Systems (NASDAQ:DCTH - Get Free Report) had its price target raised by analysts at BTIG Research from $17.00 to $21.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective indicates a potential upside of 40.00% from the company's current price.

A number of other research firms have also recently issued reports on DCTH. Zacks Research upgraded Delcath Systems from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings upgraded Delcath Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.83.

Delcath Systems Stock Up 18.8%

Shares of NASDAQ:DCTH traded up $2.37 during trading on Thursday, hitting $15.00. 2,244,794 shares of the company were exchanged, compared to its average volume of 462,732. The business's 50 day moving average is $12.18 and its 200-day moving average is $10.81. The company has a market capitalization of $517.83 million, a P/E ratio of 1,497.00 and a beta of 0.52. Delcath Systems has a 1-year low of $8.12 and a 1-year high of $15.62.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.16. The firm had revenue of $29.13 million for the quarter, compared to analyst estimates of $26.25 million. Delcath Systems had a return on equity of 0.51% and a net margin of 0.62%. As a group, sell-side analysts anticipate that Delcath Systems will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Delcath Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in Delcath Systems during the 2nd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new position in shares of Delcath Systems in the third quarter valued at approximately $29,000. Tower Research Capital LLC TRC bought a new position in shares of Delcath Systems in the second quarter valued at approximately $40,000. Legal & General Group Plc purchased a new position in shares of Delcath Systems during the second quarter valued at approximately $46,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Delcath Systems during the second quarter valued at approximately $151,000. Institutional investors and hedge funds own 61.12% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source