Delcath Systems (NASDAQ:DCTH) Reaches New 1-Year High After Earnings Beat

Delcath Systems, Inc. (NASDAQ:DCTH) hit a new 52-week high on Monday following a better than expected earnings announcement. The stock traded as high as $18.40 and last traded at $18.0580, with a volume of 95,652 shares changing hands. The stock had previously closed at $14.93.

The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.26. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. The firm had revenue of $35.10 million during the quarter, compared to analysts’ expectations of $25.99 million.

Wall Street Analysts Forecast Growth

DCTH has been the topic of several research reports. Weiss Ratings cut Delcath Systems from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Zacks Research cut Delcath Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded Delcath Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. BTIG Research upped their target price on shares of Delcath Systems from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Delcath Systems in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.67.

Institutional Investors Weigh In On Delcath Systems

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in shares of Delcath Systems by 31.1% during the third quarter. Russell Investments Group Ltd. now owns 88,727 shares of the company’s stock worth $1,417,000 after purchasing an additional 21,069 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Delcath Systems in the second quarter worth $1,362,000. Alps Advisors Inc. lifted its position in Delcath Systems by 30.3% in the 3rd quarter. Alps Advisors Inc. now owns 45,640 shares of the company’s stock worth $729,000 after buying an additional 10,600 shares during the last quarter. Bank of America Corp DE boosted its stake in Delcath Systems by 54.0% in the first quarter. Bank of America Corp DE now owns 57,729 shares of the company’s stock worth $536,000 after buying an additional 20,249 shares in the last quarter. Finally, Kopp Family Office LLC purchased a new stake in Delcath Systems in the third quarter worth approximately $450,000. Institutional investors own 61.12% of the company’s stock.

Delcath Systems Stock Up 26.6%

The firm has a market capitalization of $655.64 million, a P/E ratio of 1,839.14 and a beta of 0.62. The business’s 50-day simple moving average is $15.45 and its 200 day simple moving average is $12.44.

Delcath Systems Company Profile

Delcath Systems, Inc is a medical technology company focused on liver-directed cancer treatments. The company develops and commercializes systems designed to deliver high concentrations of chemotherapy to the liver while limiting exposure to the rest of the body.

Its primary product in the United States is the HEPZATO KIT, a liver-directed therapy that combines the company’s proprietary hepatic delivery system with melphalan hydrochloride for injection. HEPZATO is approved for the treatment of adult patients with unresectable metastatic uveal melanoma involving the liver, without extrahepatic disease or with limited extrahepatic disease that is not clinically significant.

Outside the United States, Delcath markets the corresponding system under the CHEMOSAT brand.