Delcath Systems (NASDAQ:DCTH) Stock Rating Upgraded by Wall Street Zen

Key Points

• Delcath Systems' stock was upgraded from a "hold" to a "buy" rating by Wall Street Zen, alongside reaffirmations from other firms like HC Wainwright with a price target increase to $29.00.
• The company reported earnings of $0.03 per share, which fell short of analyst estimates of $0.10, despite generating higher revenue of $19.80 million for the quarter.
• Institutional investors and hedge funds now hold over 61% of Delcath Systems' stock, showing increasing confidence in the company's potential within the interventional oncology market.

Wall Street Zen upgraded shares of Delcath Systems (NASDAQ:DCTH - Free Report) from a hold rating to a buy rating in a research note released on Saturday.

A number of other brokerages also recently weighed in on DCTH. HC Wainwright reiterated a "buy" rating and set a $29.00 price target (up previously from $24.00) on shares of Delcath Systems in a report on Friday, May 23rd. 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $24.00.

Delcath Systems Stock Performance

Shares of DCTH stock traded up $0.71 during mid-day trading on Friday, hitting $11.23. 1,807,893 shares of the stock traded hands, compared to its average volume of 560,734. Delcath Systems has a twelve month low of $7.17 and a twelve month high of $18.23. The firm has a market cap of $391.14 million, a price-to-earnings ratio of -22.48 and a beta of 0.82. The company's 50-day simple moving average is $13.33 and its 200-day simple moving average is $13.69.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. The company had revenue of $24.16 million for the quarter, compared to analyst estimates of $22.84 million. Delcath Systems had a negative return on equity of 29.44% and a negative net margin of 26.38%. Analysts forecast that Delcath Systems will post -0.79 earnings per share for the current year.

Institutional Trading of Delcath Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vivo Capital LLC lifted its position in shares of 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 purchasing an additional 711,574 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Delcath Systems by 13.8% during the 1st 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 last quarter. Soleus Capital Management L.P. acquired a new position in shares of Delcath Systems during the 4th quarter worth about $9,644,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Delcath Systems during the 4th quarter worth about $7,371,000. Finally, Millennium Management LLC lifted its position in shares of Delcath Systems by 34.1% during the 1st quarter. Millennium Management LLC now owns 422,066 shares of the company's stock worth $5,373,000 after purchasing an additional 107,391 shares during the last quarter. Institutional investors and hedge funds 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.