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

Delcath Systems (NASDAQ:DCTH) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Other research analysts also recently issued reports about the company. Wall Street Zen raised Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Delcath Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. BTIG Research boosted their price target on shares of Delcath Systems from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Delcath Systems in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.17.

Delcath Systems Trading Down 0.2%

NASDAQ DCTH opened at $15.38 on Tuesday. The stock has a market capitalization of $533.69 million, a price-to-earnings ratio of 1,539.54 and a beta of 0.60. Delcath Systems has a twelve month low of $8.12 and a twelve month high of $17.42. The stock has a 50-day moving average of $15.91 and a 200 day moving average of $12.90.

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

Institutional Trading of Delcath Systems

Several large investors have recently made changes to their positions in DCTH. Bank of New York Mellon Corp purchased a new position in Delcath Systems in the 2nd quarter valued at $1,362,000. Bank of America Corp DE boosted its stake 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 purchasing an additional 20,249 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Delcath Systems by 100.0% during the first quarter. Sei Investments Co. now owns 44,058 shares of the company’s stock worth $409,000 after buying an additional 22,029 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Delcath Systems during the first quarter worth $306,000. Finally, Royal Bank of Canada grew its holdings in shares of Delcath Systems by 14.8% during the first quarter. Royal Bank of Canada now owns 18,383 shares of the company’s stock worth $170,000 after buying an additional 2,364 shares in the last quarter. 61.12% of the stock is currently owned by hedge funds and other institutional investors.

Delcath Systems Company Profile

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.