Palisades Investment Partners LLC Grows Holdings in Delcath Systems, Inc. $DCTH

Key Points

• Palisades Investment Partners LLC increased its holdings in Delcath Systems by 58.0%, now owning 270,310 shares valued at approximately $3.68 million, making it the firm's 23rd largest position.
• Delcath Systems received a price target increase from HC Wainwright, raising it to $31.00 while maintaining a "buy" rating, though Wall Street Zen downgraded the stock to a "hold."
• The company's shares opened at $10.74, with a market capitalization of $375.70 million and reported earnings beating consensus estimates, leading analysts to predict a total EPS of -0.79 for the current fiscal year.

Palisades Investment Partners LLC raised its position in shares of Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) by 58.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 270,310 shares of the company's stock after purchasing an additional 99,226 shares during the period. Delcath Systems accounts for approximately 1.6% of Palisades Investment Partners LLC's holdings, making the stock its 23rd biggest position. Palisades Investment Partners LLC owned approximately 0.78% of Delcath Systems worth $3,676,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Delcath Systems by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 117,620 shares of the company's stock valued at $1,497,000 after purchasing an additional 2,437 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in shares of Delcath Systems by 7.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 51,600 shares of the company's stock valued at $657,000 after purchasing an additional 3,600 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of Delcath Systems in the first quarter valued at approximately $85,000. Baader Bank Aktiengesellschaft increased its holdings in Delcath Systems by 46.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 24,903 shares of the company's stock worth $317,000 after buying an additional 7,925 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Delcath Systems by 99,900.0% in the first quarter. NBC Securities Inc. now owns 10,000 shares of the company's stock valued at $127,000 after purchasing an additional 9,990 shares during the last quarter. Institutional investors and hedge funds own 61.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DCTH. HC Wainwright upped their price objective on Delcath Systems from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded Delcath Systems from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Stephens restated an "overweight" rating and issued a $25.00 target price on shares of Delcath Systems in a research report on Monday, June 23rd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Delcath Systems has an average rating of "Buy" and an average price target of $24.50.

Delcath Systems Stock Down 1.1%

Shares of DCTH opened at $10.74 on Friday. Delcath Systems, Inc. has a 52 week low of $8.08 and a 52 week high of $18.23. The company has a market capitalization of $375.70 million, a price-to-earnings ratio of 214.80 and a beta of 0.85. The stock's 50-day moving average price is $10.97 and its 200-day moving average price is $12.63.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%.The firm had revenue of $24.16 million during the quarter, compared to analysts' expectations of $22.84 million. As a group, equities analysts anticipate that Delcath Systems, Inc. will post -0.79 EPS for the current fiscal year.

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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