Wall Street Zen Upgrades Delcath Systems (NASDAQ:DCTH) to "Strong-Buy"

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

Separately, HC Wainwright reiterated a "buy" rating and set a $29.00 target price (up previously from $24.00) on shares of Delcath Systems in a research note on Friday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $24.00.

Delcath Systems Stock Performance

NASDAQ:DCTH traded up $0.30 during mid-day trading on Friday, hitting $16.41. 793,178 shares of the company's stock traded hands, compared to its average volume of 373,751. Delcath Systems has a 1 year low of $6.33 and a 1 year high of $18.23. The company has a market cap of $571.49 million, a PE ratio of -12.16 and a beta of 0.72. The firm's 50 day simple moving average is $13.10 and its 200 day simple moving average is $13.03.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.07). Delcath Systems had a negative net margin of 150.70% and a negative return on equity of 338.16%. The business had revenue of $19.80 million for the quarter, compared to analyst estimates of $16.83 million. On average, research analysts expect that Delcath Systems will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Delcath Systems

Institutional investors have recently bought and sold shares of the stock. Vivo Capital LLC raised its holdings in Delcath Systems by 71.4% during the 4th quarter. Vivo Capital LLC now owns 1,708,579 shares of the company's stock worth $20,571,000 after buying an additional 711,574 shares during the period. Vanguard Group Inc. boosted its position in Delcath Systems by 13.8% during the first quarter. Vanguard Group Inc. now owns 1,394,028 shares of the company's stock worth $17,746,000 after purchasing an additional 169,260 shares during the period. Soleus Capital Management L.P. bought a new stake in Delcath Systems during the fourth quarter worth approximately $9,644,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Delcath Systems in the fourth quarter valued at approximately $7,371,000. Finally, Millennium Management LLC boosted its position in shares of Delcath Systems by 34.1% in the first quarter. Millennium Management LLC now owns 422,066 shares of the company's stock valued at $5,373,000 after acquiring an additional 107,391 shares during the period. Institutional investors and hedge funds own 61.12% of the company's stock.

About Delcath Systems

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.