Delcath Systems (NASDAQ:DCTH) Cut to Buy at Wall Street Zen

Delcath Systems (NASDAQ:DCTH - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

Separately, HC Wainwright reissued a "buy" rating and issued a $29.00 price objective (up from $24.00) on shares of Delcath Systems in a research report on Friday, May 23rd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $24.00.

Delcath Systems Trading Up 0.6%

NASDAQ:DCTH traded up $0.09 on Friday, reaching $16.30. The stock had a trading volume of 491,409 shares, compared to its average volume of 378,703. The company has a 50-day moving average of $13.30 and a 200 day moving average of $13.22. The stock has a market cap of $567.66 million, a P/E ratio of -12.07 and a beta of 0.72. Delcath Systems has a 12-month low of $6.33 and a 12-month high of $18.23.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $19.80 million during the quarter, compared to analysts' expectations of $16.83 million. Delcath Systems had a negative net margin of 150.70% and a negative return on equity of 338.16%. On average, equities analysts predict that Delcath Systems will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Delcath Systems

A number of institutional investors have recently modified their holdings of the stock. 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 acquiring an additional 1,757 shares during the period. Principal Financial Group Inc. grew its position in Delcath Systems by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 117,620 shares of the company's stock worth $1,497,000 after purchasing an additional 2,437 shares during the last quarter. Quarry LP bought a new position in Delcath Systems in the 4th quarter worth about $34,000. OMERS ADMINISTRATION Corp grew its position in Delcath Systems by 7.5% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 51,600 shares of the company's stock worth $657,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Delcath Systems in the 4th quarter worth about $66,000. 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.