Delcath Systems (NASDAQ:DCTH) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Delcath Systems (NASDAQ:DCTH) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Delcath Systems, Inc. has developed a system, the Delcath system, to isolate the liver from the general circulatory system and to administer chemotherapy and other therapeutic agents directly to the liver. “

DCTH opened at $9.07 on Wednesday. Delcath Systems has a fifty-two week low of $8.28 and a fifty-two week high of $25.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.99. The company has a market capitalization of $66.72 million, a P/E ratio of -2.41 and a beta of 0.53. The stock has a fifty day moving average of $9.56 and a 200-day moving average of $10.68.

Delcath Systems (NASDAQ:DCTH) last posted its earnings results on Monday, August 9th. The company reported ($0.96) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.98) by $0.02. Delcath Systems had a negative return on equity of 166.54% and a negative net margin of 1,534.53%. The company had revenue of $0.54 million during the quarter, compared to the consensus estimate of $0.40 million. During the same quarter last year, the firm earned ($1.90) earnings per share. On average, equities research analysts predict that Delcath Systems will post -3.82 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of DCTH. Geode Capital Management LLC raised its stake in Delcath Systems by 50.7% in the first quarter. Geode Capital Management LLC now owns 40,044 shares of the company’s stock valued at $497,000 after purchasing an additional 13,473 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Delcath Systems in the first quarter valued at about $125,000. Schonfeld Strategic Advisors LLC acquired a new position in Delcath Systems in the first quarter valued at about $1,357,000. Morgan Stanley raised its stake in Delcath Systems by 1,218.3% in the first quarter. Morgan Stanley now owns 46,640 shares of the company’s stock valued at $580,000 after purchasing an additional 43,102 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Delcath Systems in the second quarter valued at about $40,000. 21.67% 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 hydrochloride for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.

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