Delcath Systems (NASDAQ:DCTH) Cut to Sell at StockNews.com

StockNews.com lowered shares of Delcath Systems (NASDAQ:DCTH) from a hold rating to a sell rating in a research note issued to investors on Monday.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reissued a buy rating and set a $22.00 price objective on shares of Delcath Systems in a research note on Tuesday, August 6th. Stephens reissued an overweight rating and set a $25.00 price target on shares of Delcath Systems in a research note on Tuesday, August 6th. Finally, Craig Hallum initiated coverage on Delcath Systems in a research report on Friday, June 28th. They issued a buy rating and a $18.00 price objective for the company.

Delcath Systems Price Performance

Shares of NASDAQ DCTH opened at $9.96 on Monday. The firm’s 50-day moving average is $8.63 and its two-hundred day moving average is $6.83. The company has a market capitalization of $276.75 million, a PE ratio of -3.76 and a beta of 0.78. Delcath Systems has a 12-month low of $2.25 and a 12-month high of $11.74.

Delcath Systems (NASDAQ:DCTH) last posted its earnings results on Monday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). The company had revenue of $7.77 million during the quarter, compared to analysts’ expectations of $5.00 million. Delcath Systems had a negative net margin of 474.22% and a negative return on equity of 312.48%. During the same period in the previous year, the company posted ($0.58) EPS. On average, analysts forecast that Delcath Systems will post -1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Delcath Systems

Several hedge funds have recently modified their holdings of DCTH. Cubist Systematic Strategies LLC purchased a new stake in Delcath Systems during the second quarter valued at about $370,000. Levin Capital Strategies L.P. grew its holdings in shares of Delcath Systems by 12.2% during the 1st quarter. Levin Capital Strategies L.P. now owns 54,969 shares of the company’s stock worth $262,000 after purchasing an additional 5,969 shares during the period. Renaissance Technologies LLC acquired a new stake in Delcath Systems during the 2nd quarter worth approximately $694,000. Marshall Wace LLP raised its holdings in Delcath Systems by 7.0% in the second quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock valued at $776,000 after buying an additional 6,066 shares during the period. Finally, Legato Capital Management LLC purchased a new position in Delcath Systems in the second quarter valued at approximately $966,000. 61.12% of the stock is owned by institutional investors and hedge funds.

Delcath Systems Company Profile

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.