Zacks Investment Research Lowers Delcath Systems (NASDAQ:DCTH) to Hold

Delcath Systems (NASDAQ:DCTH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Delcath Systems, Inc. has developed a system, the Delcath system, to isolate the liver from the general circulatory system and to administer chemotherapy and other therapeutic agents directly to the liver. “

A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of Delcath Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 5th. BTIG Research initiated coverage on shares of Delcath Systems in a research report on Tuesday, January 5th. They set a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.25.

Shares of NASDAQ DCTH traded down $0.39 during mid-day trading on Wednesday, reaching $16.98. 99,951 shares of the company’s stock traded hands, compared to its average volume of 117,513. The stock has a market cap of $69.91 million, a P/E ratio of -0.02 and a beta of 0.78. The business has a 50-day simple moving average of $17.37 and a 200 day simple moving average of $15.36. Delcath Systems has a 1-year low of $5.15 and a 1-year high of $19.82.

Delcath Systems (NASDAQ:DCTH) last issued its quarterly earnings data on Wednesday, November 11th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.01). The firm had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $0.40 million. As a group, sell-side analysts anticipate that Delcath Systems will post -6.8 EPS for the current year.

In related news, CEO Gerard J. Michel acquired 7,500 shares of the stock in a transaction on Friday, December 11th. The shares were acquired at an average price of $13.25 per share, with a total value of $99,375.00. Following the completion of the transaction, the chief executive officer now owns 7,500 shares in the company, valued at approximately $99,375. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 11,500 shares of company stock worth $146,395. Insiders own 6.75% of the company’s stock.

A hedge fund recently raised its stake in Delcath Systems stock. Squarepoint Ops LLC grew its holdings in Delcath Systems, Inc. (NASDAQ:DCTH) by 43.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,931 shares of the company’s stock after purchasing an additional 7,607 shares during the period. Squarepoint Ops LLC owned approximately 0.61% of Delcath Systems worth $289,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.52% 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. The company's lead product candidate is the melphalan hydrochloride for injection for use with the Delcath hepatic delivery system to administer high-dose chemotherapy to the liver.

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