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

Shares of Delcath Systems, Inc. (NASDAQ:DCTH) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.40.

Several equities research analysts recently issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $23.00 target price on shares of Delcath Systems in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Delcath Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Delcath Systems in a report on Monday, December 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $21.00 price target on shares of Delcath Systems in a research note on Tuesday, October 21st. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Delcath Systems in a research report on Friday, January 9th.

Delcath Systems Trading Down 2.7%

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

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

Delcath Systems announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 20th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Delcath Systems news, CEO Gerard J. Michel purchased 11,500 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was acquired at an average cost of $8.53 per share, for a total transaction of $98,095.00. Following the purchase, the chief executive officer directly owned 330,834 shares of the company’s stock, valued at $2,822,014.02. This trade represents a 3.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of Delcath Systems

Hedge funds have recently modified their holdings of the company. Simplify Asset Management Inc. boosted its position in Delcath Systems by 144.9% in the 3rd quarter. Simplify Asset Management Inc. now owns 261,126 shares of the company’s stock valued at $2,807,000 after buying an additional 154,497 shares during the period. Los Angeles Capital Management LLC purchased a new position in Delcath Systems in the second quarter worth approximately $1,338,000. Geode Capital Management LLC increased its position in shares of Delcath Systems by 128.1% in the 2nd quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock valued at $9,565,000 after purchasing an additional 394,902 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Delcath Systems during the second quarter worth $162,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Delcath Systems in the second quarter valued at $97,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

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.