Zacks Research Downgrades Delcath Systems (NASDAQ:DCTH) to Strong Sell

Delcath Systems (NASDAQ:DCTH) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

DCTH has been the topic of several other reports. BTIG Research lowered their target price on Delcath Systems from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Weiss Ratings upgraded Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Evercore set a $27.00 price target on Delcath Systems in a research note on Thursday, February 26th. Finally, Wall Street Zen cut Delcath Systems from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.50.

Delcath Systems Stock Up 2.5%

Shares of Delcath Systems stock opened at $11.34 on Monday. Delcath Systems has a twelve month low of $8.12 and a twelve month high of $18.23. The business has a 50-day moving average price of $9.98 and a 200 day moving average price of $9.82. The firm has a market cap of $391.46 million, a PE ratio of 1,134.00 and a beta of 0.54.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.07. Delcath Systems had a return on equity of 0.51% and a net margin of 0.62%.The company had revenue of $24.99 million during the quarter, compared to analyst estimates of $23.51 million. On average, sell-side analysts expect that Delcath Systems will post -0.88 EPS for the current year.

Hedge Funds Weigh In On Delcath Systems

Several hedge funds have recently made changes to their positions in the company. Rosalind Advisors Inc. grew its holdings in shares of Delcath Systems by 13.8% during the second quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock worth $44,885,000 after purchasing an additional 400,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Delcath Systems by 2.9% during the third quarter. Vanguard Group Inc. now owns 1,657,428 shares of the company’s stock worth $17,817,000 after buying an additional 46,693 shares during the period. Nantahala Capital Management LLC acquired a new stake in shares of Delcath Systems during the third quarter worth about $7,164,000. Goldman Sachs Group Inc. lifted its position in Delcath Systems by 116.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 587,678 shares of the company’s stock valued at $5,936,000 after purchasing an additional 315,583 shares during the period. Finally, ExodusPoint Capital Management LP lifted its position in Delcath Systems by 30.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 496,705 shares of the company’s stock valued at $5,017,000 after purchasing an additional 117,122 shares during the period. Hedge funds and other institutional investors own 61.12% of the company’s stock.

Delcath Systems Company Profile

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.