Analysts Set Delcath Systems, Inc. (NASDAQ:DCTH) Target Price at $24.00

Delcath Systems, Inc. (NASDAQ:DCTH) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $24.00.

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Delcath Systems from a “buy” rating to a “hold” rating in a research report on Sunday, October 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Delcath Systems in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Delcath Systems in a research note on Wednesday, October 8th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of Delcath Systems in a research note on Tuesday, October 21st. Finally, HC Wainwright set a $30.00 target price on Delcath Systems and gave the stock a “buy” rating in a research note on Monday, October 20th.

Delcath Systems Trading Down 3.3%

Shares of NASDAQ:DCTH opened at $9.40 on Tuesday. The business’s 50 day moving average is $10.97 and its 200-day moving average is $12.36. The firm has a market capitalization of $328.81 million, a PE ratio of 188.00 and a beta of 0.84. Delcath Systems has a 1-year low of $8.87 and a 1-year high of $18.23.

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

Hedge Funds Weigh In On Delcath Systems

Large investors have recently modified their holdings of the business. Palisades Investment Partners LLC raised its stake in shares of Delcath Systems by 58.0% during the 2nd quarter. Palisades Investment Partners LLC now owns 270,310 shares of the company’s stock worth $3,676,000 after purchasing an additional 99,226 shares in the last quarter. Vanguard Group Inc. increased its position in Delcath Systems by 13.8% during the 1st quarter. Vanguard Group Inc. now owns 1,394,028 shares of the company’s stock worth $17,746,000 after buying an additional 169,260 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Delcath Systems by 2.1% during the first quarter. Principal Financial Group Inc. now owns 117,620 shares of the company’s stock worth $1,497,000 after buying an additional 2,437 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Delcath Systems during the 1st quarter worth approximately $5,084,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Delcath Systems by 140.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 282,538 shares of the company’s stock valued at $3,597,000 after acquiring an additional 165,134 shares in the last quarter. 61.12% of the stock is currently owned by institutional investors and hedge funds.

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.