Delcath Systems (NASDAQ:DCTH) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Delcath Systems (NASDAQ:DCTH) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks reports.

Several other equities research analysts also recently weighed in on DCTH. BTIG Research increased their target price on shares of Delcath Systems from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings upgraded shares of Delcath Systems from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday. Wall Street Zen upgraded shares of Delcath Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, HC Wainwright increased their price objective on shares of Delcath Systems from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $29.33.

Delcath Systems Stock Performance

NASDAQ DCTH opened at $21.38 on Wednesday. The company has a market cap of $743.81 million, a P/E ratio of 133.62 and a beta of 0.62. The business’s 50 day moving average price is $15.80 and its 200-day moving average price is $12.65. Delcath Systems has a fifty-two week low of $8.12 and a fifty-two week high of $22.51.

Delcath Systems (NASDAQ:DCTH) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.26. The company had revenue of $35.10 million during the quarter, compared to the consensus estimate of $25.99 million. Delcath Systems had a return on equity of 5.56% and a net margin of 6.05%. As a group, equities analysts predict that Delcath Systems will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Delcath Systems

Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in Delcath Systems by 31.1% in 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. Alps Advisors Inc. lifted its position in shares of Delcath Systems by 30.3% during the third quarter. Alps Advisors Inc. now owns 45,640 shares of the company’s stock worth $729,000 after purchasing an additional 10,600 shares during the last quarter. Kopp Family Office LLC purchased a new stake in shares of Delcath Systems during the third quarter valued at $450,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Delcath Systems during the second quarter valued at $48,000. Finally, IFP Advisors Inc purchased a new stake in shares of Delcath Systems during the second quarter valued at $52,000. Institutional investors own 61.12% of the company’s stock.

Trending Headlines about Delcath Systems

Here are a few of the latest headlines about DCTH:

• Positive Sentiment: Zacks Research upgraded DCTH from “hold” to “strong-buy,” adding to favorable analyst coverage.
• Positive Sentiment: A Zacks analysis cited a consensus price target suggesting 27.7% potential upside and noted that upward earnings-estimate revisions may support near-term momentum. Zacks price-target analysis
• Negative Sentiment: An analyst reduced a Q2 EPS forecast, a counterpoint to HC Wainwright’s recent upward estimate revisions. The available report listing does not provide the revised figure. Article on reduced Q2 EPS forecast

Delcath Systems Company Profile

Delcath Systems, Inc. is an oncology company focused on liver-directed treatments for cancers that have spread to the liver. Its technology uses percutaneous hepatic perfusion, a procedure that temporarily isolates the liver’s blood supply and circulates chemotherapy through the organ before filtering the blood and returning it to the patient. The company’s HEPZATO KIT combines melphalan with a specialized delivery system. The U.S. Food and Drug Administration approved it for certain adults with unresectable metastatic uveal melanoma involving the liver.