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

Delcath Systems (NASDAQ:DCTH) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities research analysts also recently commented on DCTH. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Delcath Systems in a research report on Monday, December 29th. Stephens lowered their target price on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Delcath Systems in a research note on Tuesday, October 21st. BTIG Research reiterated a “buy” rating and issued a $23.00 price target on shares of Delcath Systems in a report on Tuesday, November 4th. Finally, Craig Hallum restated a “buy” rating and set a $20.00 price objective on shares of Delcath Systems in a report on Tuesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Delcath Systems Price Performance

Shares of NASDAQ DCTH opened at $10.34 on Friday. The company has a 50-day simple moving average of $9.60 and a 200-day simple moving average of $10.66. The company has a market cap of $365.11 million, a PE ratio of 1,034.00 and a beta of 0.39. Delcath Systems has a 12 month low of $8.12 and a 12 month high of $18.23.

Delcath Systems (NASDAQ:DCTH) last announced its earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $20.56 million for the quarter, compared to analyst estimates of $23.22 million. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. On average, analysts anticipate that Delcath Systems will post -0.79 EPS for the current year.

Delcath Systems announced that its Board of Directors has authorized a stock buyback program on Thursday, November 20th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Delcath Systems

In other news, CEO Gerard J. Michel acquired 11,500 shares of the stock in a transaction on Tuesday, November 11th. The stock was bought at an average price of $8.53 per share, with a total value of $98,095.00. Following the completion of the transaction, the chief executive officer directly owned 330,834 shares of the company’s stock, valued at $2,822,014.02. The trade was a 3.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DCTH. Simplify Asset Management Inc. lifted its holdings in Delcath Systems by 144.9% in the 3rd quarter. Simplify Asset Management Inc. now owns 261,126 shares of the company’s stock worth $2,807,000 after buying an additional 154,497 shares in the last quarter. Palisades Investment Partners LLC grew its holdings in Delcath Systems by 58.0% during the 2nd quarter. Palisades Investment Partners LLC now owns 270,310 shares of the company’s stock worth $3,676,000 after acquiring an additional 99,226 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Delcath Systems in the 2nd quarter worth about $1,338,000. Geode Capital Management LLC increased its position in shares of Delcath Systems by 128.1% in the 2nd quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock worth $9,565,000 after purchasing an additional 394,902 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Delcath Systems in the 2nd quarter valued at about $162,000. 61.12% of the stock is currently owned by hedge funds and other institutional investors.

Delcath Systems Company Profile

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company’s core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.