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.

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

Several other research firms also recently issued reports on DCTH. HC Wainwright reaffirmed a "buy" rating and set a $29.00 price target (up previously from $24.00) on shares of Delcath Systems in a research note on Friday, May 23rd. Stephens reiterated an "overweight" rating and set a $25.00 price target on shares of Delcath Systems in a report on Monday, June 23rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $24.00.

Delcath Systems Stock Performance

NASDAQ DCTH opened at $10.59 on Friday. The firm's fifty day moving average price is $13.54 and its two-hundred day moving average price is $13.73. The stock has a market cap of $368.85 million, a PE ratio of -21.18 and a beta of 0.82. Delcath Systems has a fifty-two week low of $7.17 and a fifty-two week high of $18.23.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last posted its 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). The company had revenue of $19.80 million for the quarter, compared to the consensus estimate of $16.83 million. Delcath Systems had a negative return on equity of 29.44% and a negative net margin of 26.38%. As a group, sell-side analysts predict that Delcath Systems will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Delcath Systems

Hedge funds have recently modified their holdings of the business. Palisades Investment Partners LLC raised its stake in Delcath Systems by 1.0% during the first quarter. Palisades Investment Partners LLC now owns 171,084 shares of the company's stock worth $2,178,000 after buying an additional 1,757 shares during the last quarter. USA Financial Formulas bought a new position in Delcath Systems during the second quarter worth $25,000. Principal Financial Group Inc. raised its stake in Delcath Systems by 2.1% during the first quarter. Principal Financial Group Inc. now owns 117,620 shares of the company's stock worth $1,497,000 after buying an additional 2,437 shares during the last quarter. Quarry LP bought a new position in Delcath Systems during the fourth quarter worth $34,000. Finally, OMERS ADMINISTRATION Corp raised its stake in Delcath Systems by 7.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 51,600 shares of the company's stock worth $657,000 after buying an additional 3,600 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.

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