Delcath Systems (NASDAQ:DCTH) Cut to Hold at Zacks Research

Zacks Research cut shares of Delcath Systems (NASDAQ:DCTH) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks reports.

A number of other equities analysts have also commented on DCTH. Weiss Ratings upgraded shares of Delcath Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 28th. Wall Street Zen upgraded Delcath Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Delcath Systems in a research report on Friday, August 7th. Finally, BTIG Research lifted their target price on Delcath Systems from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.17.

Delcath Systems Price Performance

Delcath Systems stock opened at $15.04 on Tuesday. The business has a 50 day moving average of $15.97 and a 200-day moving average of $12.95. The company has a market capitalization of $521.89 million, a P/E ratio of 1,505.51 and a beta of 0.60. Delcath Systems has a 1 year low of $8.12 and a 1 year high of $17.42.

Delcath Systems (NASDAQ:DCTH) last posted its earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.16. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. The business had revenue of $29.13 million for the quarter, compared to the consensus estimate of $26.25 million. Equities analysts anticipate that Delcath Systems will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Delcath Systems

Several large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in Delcath Systems in the second quarter valued at $48,000. IFP Advisors Inc acquired a new stake in Delcath Systems during the 2nd quarter worth about $52,000. Bank of New York Mellon Corp acquired a new stake in Delcath Systems during the 2nd quarter worth about $1,362,000. Bank of America Corp DE grew its holdings in Delcath Systems by 54.0% during the 1st quarter. Bank of America Corp DE now owns 57,729 shares of the company’s stock worth $536,000 after acquiring an additional 20,249 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Delcath Systems by 14.8% in the 1st quarter. Royal Bank of Canada now owns 18,383 shares of the company’s stock worth $170,000 after acquiring an additional 2,364 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 is a commercial-stage oncology company focused on liver-directed therapies for patients with metastatic cancer. Its technology is designed to deliver high concentrations of chemotherapy directly to the liver while limiting systemic exposure, addressing cancers that are difficult to treat with conventional approaches.

The company’s primary products are HEPZATO (melphalan for injection) and the HEPZATO KIT in the United States, as well as CHEMOSAT in markets outside the United States.