Delcath Systems (NASDAQ:DCTH) Hits New 12-Month High on Strong Earnings

Key Points

• Delcath Systems shares reached a 52-week high of $18.40 after a stronger-than-expected quarterly report, up from the prior close of $14.93.
• The company reported earnings of $0.17 per share, versus analyst expectations of a $0.09 loss, and revenue of $35.1 million, topping the $25.99 million estimate.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $26.67; individual views include Buy and Hold ratings.

Delcath Systems, Inc. (NASDAQ:DCTH - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $18.40 and last traded at $18.0580, with a volume of 95,652 shares. The stock had previously closed at $14.93.

The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.26. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. The company had revenue of $35.10 million during the quarter, compared to analyst estimates of $25.99 million.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DCTH shares. BTIG Research increased their price target on Delcath Systems from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Zacks Research lowered shares of Delcath Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. Weiss Ratings lowered Delcath Systems from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, October 28th. HC Wainwright reissued a "buy" rating and issued a $32.00 target price (up from $30.00) on shares of Delcath Systems in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Delcath Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.

Institutional Trading of Delcath Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in DCTH. Bank of New York Mellon Corp purchased a new position in Delcath Systems during the 2nd quarter worth $1,362,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Delcath Systems during the 1st quarter worth $306,000. Kopp Family Office LLC purchased a new position in shares of Delcath Systems during the 3rd quarter worth approximately $450,000. Sei Investments Co. boosted its stake in shares of Delcath Systems by 100.0% during the first quarter. Sei Investments Co. now owns 44,058 shares of the company's stock valued at $409,000 after acquiring an additional 22,029 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Delcath Systems by 31.1% during the third quarter. Russell Investments Group Ltd. now owns 88,727 shares of the company's stock worth $1,417,000 after acquiring an additional 21,069 shares during the last quarter. Institutional investors and hedge funds own 61.12% of the company's stock.

Delcath Systems Price Performance

The company has a 50-day moving average of $15.45 and a two-hundred day moving average of $12.44. The stock has a market capitalization of $655.64 million, a PE ratio of 1,839.14 and a beta of 0.62.

About Delcath Systems

Delcath Systems, Inc is a medical technology company focused on liver-directed cancer treatments. The company develops and commercializes systems designed to deliver high concentrations of chemotherapy to the liver while limiting exposure to the rest of the body.

Its primary product in the United States is the HEPZATO KIT, a liver-directed therapy that combines the company's proprietary hepatic delivery system with melphalan hydrochloride for injection. HEPZATO is approved for the treatment of adult patients with unresectable metastatic uveal melanoma involving the liver, without extrahepatic disease or with limited extrahepatic disease that is not clinically significant.

Outside the United States, Delcath markets the corresponding system under the CHEMOSAT brand.

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