Analysts Set Delcath Systems, Inc. (NASDAQ:DCTH) PT at $22.40

Delcath Systems, Inc. (NASDAQ:DCTH) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $22.40.

DCTH has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $21.00 price objective on shares of Delcath Systems in a research note on Tuesday, October 21st. Wall Street Zen raised Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Delcath Systems in a report on Friday, January 9th. Finally, BTIG Research restated a “buy” rating and set a $23.00 price objective on shares of Delcath Systems in a report on Tuesday, November 4th.

Insider Buying and Selling

In related news, CEO Gerard J. Michel purchased 11,500 shares of Delcath Systems stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $8.53 per share, with a total value of $98,095.00. Following the purchase, the chief executive officer directly owned 330,834 shares of the company’s stock, valued at approximately $2,822,014.02. This represents a 3.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delcath Systems

A number of institutional investors have recently modified their holdings of DCTH. Rosalind Advisors Inc. raised its stake 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 valued at $44,885,000 after acquiring an additional 400,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Delcath Systems by 2.9% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Delcath Systems by 128.1% during the 2nd quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock worth $9,565,000 after buying an additional 394,902 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Delcath Systems during the third quarter valued at $7,164,000. Finally, Marshall Wace LLP bought a new stake in shares of Delcath Systems in the second quarter valued at about $6,572,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

Delcath Systems Price Performance

Shares of DCTH stock opened at $10.42 on Friday. The company has a market cap of $367.93 million, a PE ratio of 1,042.00 and a beta of 0.39. Delcath Systems has a 1 year low of $8.12 and a 1 year high of $18.23. The stock’s 50 day simple moving average is $9.65 and its two-hundred day simple moving average is $10.57.

Delcath Systems (NASDAQ:DCTH) last released its earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Delcath Systems had a return on equity of 7.02% and a net margin of 1.50%.The firm had revenue of $20.56 million for the quarter, compared to the consensus estimate of $23.22 million. Equities research analysts expect that Delcath Systems will post -0.79 EPS for the current year.

Delcath Systems announced that its board has authorized a stock repurchase program on Thursday, November 20th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

About Delcath Systems

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.