Canaccord Genuity Group Reiterates Buy Rating for Delcath Systems (NASDAQ:DCTH)

Delcath Systems (NASDAQ:DCTH)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a report issued on Tuesday,Benzinga reports. They currently have a $21.00 target price on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 102.70% from the stock’s previous close.

DCTH has been the subject of a number of other research reports. Craig Hallum reissued a “buy” rating and issued a $20.00 price target on shares of Delcath Systems in a report on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Delcath Systems in a report on Wednesday, October 8th. Wall Street Zen downgraded Delcath Systems from a “buy” rating to a “hold” rating in a report on Sunday, October 12th. HC Wainwright set a $30.00 price target on Delcath Systems and gave the company a “buy” rating in a report on Monday. Finally, Stephens reissued an “overweight” rating and issued a $25.00 price target on shares of Delcath Systems in a report on Monday, June 23rd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Delcath Systems Stock Performance

DCTH stock opened at $10.36 on Tuesday. Delcath Systems has a 1 year low of $8.87 and a 1 year high of $18.23. The firm has a market cap of $362.39 million, a P/E ratio of 207.20 and a beta of 0.84. The stock has a 50-day simple moving average of $11.03 and a 200-day simple moving average of $12.39.

Delcath Systems (NASDAQ:DCTH) last posted its earnings results on Wednesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%.The business had revenue of $24.16 million during the quarter, compared to analyst estimates of $22.84 million. On average, equities research analysts predict that Delcath Systems will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DCTH. USA Financial Formulas bought a new position in Delcath Systems during the 2nd quarter worth approximately $25,000. California State Teachers Retirement System bought a new stake in shares of Delcath Systems in the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC bought a new stake in shares of Delcath Systems in the 2nd quarter worth approximately $40,000. Ameritas Investment Partners Inc. bought a new stake in shares of Delcath Systems in the 2nd quarter worth approximately $42,000. Finally, Legal & General Group Plc bought a new stake in shares of Delcath Systems in the 2nd quarter worth approximately $46,000. Institutional investors own 61.12% of the company’s stock.

About Delcath Systems

Delcath Systems, Inc, an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company’s lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.