Delcath Systems, Inc. (NASDAQ:DCTH) Receives $22.40 Average Target Price from Brokerages

Shares of Delcath Systems, Inc. (NASDAQ:DCTH) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.40.

Several research firms recently commented on DCTH. Craig Hallum reiterated a “buy” rating and set a $20.00 target price on shares of Delcath Systems in a research note on Tuesday, October 21st. Stephens reduced their target price on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and issued a $23.00 price target on shares of Delcath Systems in a report on Tuesday, November 4th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Delcath Systems in a report on Friday, January 9th.

Insider Transactions at Delcath Systems

In other Delcath Systems news, CEO Gerard J. Michel acquired 11,500 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was bought at an average price of $8.53 per share, for a total transaction of $98,095.00. Following the purchase, the chief executive officer owned 330,834 shares in the company, valued at $2,822,014.02. This represents a 3.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 17.40% of the stock is owned by company insiders.

Institutional Trading of Delcath Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DCTH. Private Wealth Advisors LLC lifted its stake in Delcath Systems by 85.9% during the fourth quarter. Private Wealth Advisors LLC now owns 290,481 shares of the company’s stock worth $2,934,000 after purchasing an additional 134,198 shares during the period. Leonteq Securities AG acquired a new position in shares of Delcath Systems in the 4th quarter worth approximately $293,000. SkyOak Wealth LLC bought a new position in shares of Delcath Systems during the 4th quarter worth approximately $152,000. State of Alaska Department of Revenue boosted its stake in Delcath Systems by 1,194.5% in the 4th quarter. State of Alaska Department of Revenue now owns 26,033 shares of the company’s stock valued at $262,000 after buying an additional 24,022 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC grew its position in Delcath Systems by 5.8% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 90,500 shares of the company’s stock valued at $914,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 61.12% of the company’s stock.

Delcath Systems Stock Performance

Delcath Systems stock opened at $9.37 on Thursday. The firm has a market capitalization of $330.85 million, a P/E ratio of 937.00 and a beta of 0.37. The company has a 50-day simple moving average of $10.09 and a 200-day simple moving average of $10.34. Delcath Systems has a one year low of $8.12 and a one year high of $18.23.

Delcath Systems declared that its Board of Directors has approved a stock repurchase program on Thursday, November 20th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to purchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors 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.