Delcath Systems (NASDAQ:DCTH) Reaches New 1-Year High – Here’s Why

Shares of Delcath Systems, Inc. (NASDAQ:DCTH) hit a new 52-week high on Thursday . The stock traded as high as $15.80 and last traded at $15.81, with a volume of 298390 shares traded. The stock had previously closed at $15.21.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DCTH shares. StockNews.com raised shares of Delcath Systems from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $21.00 price objective on shares of Delcath Systems in a research note on Friday, October 18th. Stephens reissued a “buy” rating on shares of Delcath Systems in a research note on Friday, October 18th. Craig Hallum boosted their price target on shares of Delcath Systems from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Delcath Systems in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.25.

Delcath Systems Stock Performance

The stock’s 50-day moving average is $12.06 and its 200 day moving average is $10.18. The stock has a market capitalization of $511.52 million, a PE ratio of -11.85 and a beta of 0.87.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Delcath Systems during the 3rd quarter worth $102,000. Barclays PLC purchased a new position in Delcath Systems during the 3rd quarter worth $104,000. Jane Street Group LLC purchased a new position in Delcath Systems during the 3rd quarter worth $110,000. Riverwater Partners LLC purchased a new stake in shares of Delcath Systems in the third quarter valued at about $161,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of Delcath Systems in the fourth quarter valued at about $204,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

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