Delcath Systems (NASDAQ:DCTH) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Delcath Systems (NASDAQ:DCTH) from a sell rating to a hold rating in a report issued on Tuesday morning, 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. “

Separately, HC Wainwright began coverage on shares of Delcath Systems in a report on Friday, December 10th. They issued a buy rating and a $25.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Delcath Systems currently has a consensus rating of Buy and a consensus target price of $21.60.

Shares of NASDAQ DCTH opened at $7.02 on Tuesday. The firm’s 50-day moving average price is $8.68 and its 200-day moving average price is $9.55. The company has a quick ratio of 5.80, a current ratio of 6.03 and a debt-to-equity ratio of 1.32. The company has a market cap of $51.64 million, a PE ratio of -1.98 and a beta of 0.38. Delcath Systems has a 52-week low of $6.97 and a 52-week high of $25.18.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings data on Tuesday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.03). The business had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $0.58 million. Delcath Systems had a negative return on equity of 158.51% and a negative net margin of 1,498.41%. During the same period in the previous year, the business posted ($1.16) EPS. As a group, equities research analysts anticipate that Delcath Systems will post -3.86 EPS for the current fiscal year.

In other news, insider Gerard J. Michel purchased 23,200 shares of the stock in a transaction on Thursday, December 2nd. The shares were acquired at an average price of $8.61 per share, with a total value of $199,752.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.43% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in shares of Delcath Systems during the second quarter valued at approximately $40,000. Northern Trust Corp bought a new stake in shares of Delcath Systems during the second quarter valued at approximately $161,000. Squarepoint Ops LLC raised its position in shares of Delcath Systems by 90.6% during the second quarter. Squarepoint Ops LLC now owns 24,773 shares of the company’s stock valued at $312,000 after buying an additional 11,777 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Delcath Systems during the second quarter valued at approximately $405,000. Finally, Morgan Stanley raised its position in shares of Delcath Systems by 1,218.3% during the first quarter. Morgan Stanley now owns 46,640 shares of the company’s stock valued at $580,000 after buying an additional 43,102 shares during the last quarter. 19.57% of the stock is currently owned by institutional investors and hedge funds.

About Delcath Systems

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 hydrochloride for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.

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