Delcath Systems, Inc. (NASDAQ:DCTH) Given Average Recommendation of “Moderate Buy” by Brokerages

Delcath Systems, Inc. (NASDAQ:DCTH) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $22.40.

Several brokerages have weighed in on DCTH. Craig Hallum restated a “buy” rating and set a $20.00 target price on shares of Delcath Systems in a research report on Tuesday, October 21st. Canaccord Genuity Group reissued a “buy” rating and set a $21.00 price target on shares of Delcath Systems in a research note on Tuesday, October 21st. Wall Street Zen raised Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Stephens reduced their price objective on Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Delcath Systems in a research report on Monday, December 29th.

Delcath Systems Stock Performance

NASDAQ:DCTH opened at $10.21 on Friday. Delcath Systems has a 1 year low of $8.12 and a 1 year high of $18.23. The stock has a fifty day moving average price of $9.71 and a two-hundred day moving average price of $10.56. The stock has a market capitalization of $360.52 million, a price-to-earnings ratio of 1,021.00 and a beta of 0.39.

Delcath Systems (NASDAQ:DCTH) last issued its earnings results on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company 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 predict that Delcath Systems will post -0.79 EPS for the current year.

Delcath Systems announced that its board has approved a stock repurchase program on Thursday, November 20th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Delcath Systems news, CEO Gerard J. Michel bought 11,500 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average cost of $8.53 per share, for a total transaction of $98,095.00. Following the acquisition, the chief executive officer owned 330,834 shares of the company’s stock, valued at $2,822,014.02. The trade was a 3.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.40% of the company’s stock.

Institutional Trading of Delcath Systems

Several large investors have recently modified their holdings of the business. USA Financial Formulas acquired a new position in shares of Delcath Systems during the 2nd quarter worth approximately $25,000. California State Teachers Retirement System acquired a new position in shares of Delcath Systems in the second quarter worth $26,000. Russell Investments Group Ltd. purchased a new stake in shares of Delcath Systems in the third quarter valued at $29,000. Tower Research Capital LLC TRC acquired a new stake in shares of Delcath Systems during the second quarter valued at $40,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Delcath Systems during the 2nd quarter worth about $42,000. 61.12% of the stock is currently owned by institutional investors and hedge funds.

About Delcath Systems

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.