Delcath Systems, Inc. (NASDAQ:DCTH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Delcath Systems, Inc. (NASDAQ:DCTH) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.40.

A number of equities research analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $23.00 price target on shares of Delcath Systems in a research report on Tuesday, November 4th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of Delcath Systems in a report on Tuesday, October 21st. Stephens cut their price target on Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. HC Wainwright set a $30.00 target price on Delcath Systems and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $21.00 price objective on shares of Delcath Systems in a research report on Tuesday, October 21st.

Insider Buying and Selling at Delcath Systems

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

Institutional Trading of Delcath Systems

A number of institutional investors and hedge funds have recently made changes to their positions in DCTH. Nantahala Capital Management LLC acquired a new stake in Delcath Systems during the third quarter worth about $7,164,000. Marshall Wace LLP acquired a new stake in shares of Delcath Systems in the second quarter worth $6,572,000. Divisadero Street Capital Management LP purchased a new position in shares of Delcath Systems in the 3rd quarter valued at $5,119,000. Rosalind Advisors Inc. boosted its position in Delcath Systems by 13.8% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock worth $44,885,000 after purchasing an additional 400,000 shares during the period. Finally, Invesco Ltd. acquired a new stake in Delcath Systems in the 1st quarter valued at $5,084,000. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Delcath Systems Stock Performance

Delcath Systems stock traded up $0.77 during mid-day trading on Friday, reaching $8.96. 2,405,874 shares of the company were exchanged, compared to its average volume of 663,587. The firm’s 50-day simple moving average is $10.23 and its two-hundred day simple moving average is $12.02. Delcath Systems has a twelve month low of $8.12 and a twelve month high of $18.23. The firm has a market cap of $316.41 million, a PE ratio of 179.20 and a beta of 0.81.

Delcath Systems (NASDAQ:DCTH) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $23.22 million. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%. As a group, equities research analysts anticipate that Delcath Systems will post -0.79 EPS for the current year.

Delcath Systems announced that its board has initiated a stock buyback program on Thursday, November 20th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Delcath Systems Company Profile

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.