Delcath Systems (NASDAQ:DCTH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Delcath Systems (NASDAQ:DCTH) from a hold rating to a buy rating in a research report released on Saturday.

A number of other research analysts have also commented on the stock. HC Wainwright restated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Delcath Systems in a research note on Friday. Weiss Ratings upgraded shares of Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. BTIG Research raised their price target on Delcath Systems from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research raised Delcath Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Delcath Systems currently has an average rating of “Moderate Buy” and a consensus price target of $23.17.

Delcath Systems Trading Up 10.3%

Shares of DCTH opened at $16.67 on Friday. The firm has a market cap of $578.45 million, a PE ratio of 1,668.67 and a beta of 0.52. The company’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $10.92. Delcath Systems has a 12-month low of $8.12 and a 12-month high of $16.69.

Delcath Systems (NASDAQ:DCTH) last announced its earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.16. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. The business had revenue of $29.13 million for the quarter, compared to analysts’ expectations of $26.25 million. As a group, equities research analysts forecast that Delcath Systems will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Delcath Systems

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in Delcath Systems by 34.1% during the 1st quarter. Millennium Management LLC now owns 422,066 shares of the company’s stock worth $5,373,000 after buying an additional 107,391 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Delcath Systems by 58.7% in the first quarter. Goldman Sachs Group Inc. now owns 123,487 shares of the company’s stock valued at $1,572,000 after acquiring an additional 45,695 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Delcath Systems by 229.1% during the second quarter. JPMorgan Chase & Co. now owns 168,245 shares of the company’s stock worth $2,288,000 after acquiring an additional 117,118 shares during the period. Legal & General Group Plc acquired a new position in shares of Delcath Systems during the second quarter worth about $46,000. Finally, Rhumbline Advisers acquired a new position in shares of Delcath Systems during the second quarter worth about $586,000. 61.12% of the stock is 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.