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

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

Several brokerages recently issued reports on DCTH. Stephens decreased their price target on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Delcath Systems in a research report on Friday, January 9th. Wall Street Zen upgraded Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Delcath Systems in a research report on Tuesday, November 4th.

Delcath Systems Trading Down 2.7%

Shares of NASDAQ:DCTH opened at $9.70 on Thursday. The company has a market cap of $342.51 million, a price-to-earnings ratio of 970.00 and a beta of 0.37. The company has a 50-day moving average price of $10.11 and a 200-day moving average price of $10.37. Delcath Systems has a 12 month low of $8.12 and a 12 month high of $18.23.

Delcath Systems (NASDAQ:DCTH) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $20.56 million during the quarter, compared to analyst estimates of $23.22 million. Delcath Systems had a return on equity of 7.02% and a net margin of 1.50%. As a group, research analysts forecast that Delcath Systems will post -0.79 EPS for the current fiscal year.

Delcath Systems announced that its board has approved a share buyback plan on Thursday, November 20th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Delcath Systems

In other news, CEO Gerard J. Michel acquired 11,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average cost of $8.53 per share, for a total transaction of $98,095.00. Following the acquisition, the chief executive officer directly owned 330,834 shares in the company, valued at approximately $2,822,014.02. The trade was a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 17.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCTH. California State Teachers Retirement System purchased a new stake in Delcath Systems during the 2nd quarter valued at $26,000. Russell Investments Group Ltd. bought a new stake in shares of Delcath Systems in the third quarter worth $29,000. Tower Research Capital LLC TRC purchased a new stake in Delcath Systems during the second quarter valued at $40,000. Ameritas Investment Partners Inc. bought a new position in Delcath Systems in the second quarter valued at about $42,000. Finally, Legal & General Group Plc bought a new position in Delcath Systems in the second quarter valued at about $46,000. Institutional investors own 61.12% of the company’s stock.

About Delcath Systems

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company’s core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.