Delcath Systems, Inc. (NASDAQ:DCTH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Delcath Systems, Inc. (NASDAQ:DCTH) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $22.40.

Several brokerages recently weighed in on DCTH. Canaccord Genuity Group reissued a “buy” rating and issued a $21.00 price objective on shares of Delcath Systems in a report on Tuesday, October 21st. Stephens reduced their target price on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Delcath Systems in a report on Tuesday, October 21st. Finally, BTIG Research reissued a “buy” rating and set a $23.00 target price on shares of Delcath Systems in a report on Tuesday, November 4th.

Delcath Systems Stock Up 6.2%

DCTH opened at $9.95 on Thursday. Delcath Systems has a twelve month low of $8.12 and a twelve month high of $18.23. The company’s 50-day moving average price is $10.10 and its two-hundred day moving average price is $10.32. The stock has a market cap of $351.33 million, a price-to-earnings ratio of 995.00 and a beta of 0.37.

Delcath Systems declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 20th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new position in shares of Delcath Systems in the second quarter valued at approximately $26,000. Russell Investments Group Ltd. purchased a new position in shares of Delcath Systems during the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC bought a new position in shares of Delcath Systems in the second quarter worth $40,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Delcath Systems in the second quarter worth $42,000. Finally, Legal & General Group Plc bought a new stake in Delcath Systems during the second quarter valued at $46,000. Hedge funds and other institutional investors own 61.12% of the company’s stock.

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.