Delcath Systems (NASDAQ:DCTH) Sets New 12-Month High After Better-Than-Expected Earnings

Delcath Systems, Inc. (NASDAQ:DCTH) shares reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $15.44 and last traded at $15.2250, with a volume of 554536 shares changing hands. The stock had previously closed at $12.63.

The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.16. Delcath Systems had a net margin of 0.62% and a return on equity of 0.51%. The firm had revenue of $29.13 million during the quarter, compared to analyst estimates of $26.25 million.

Analyst Ratings Changes

Several research analysts have weighed in on DCTH shares. BTIG Research reissued a “buy” rating and issued a $17.00 price objective on shares of Delcath Systems in a research report on Monday, July 13th. Weiss Ratings raised Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Delcath Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.17.

Institutional Trading of Delcath Systems

A number of institutional investors have recently modified their holdings of DCTH. California State Teachers Retirement System bought a new stake in shares of Delcath Systems during the 2nd quarter valued at about $26,000. Russell Investments Group Ltd. purchased a new stake in shares of Delcath Systems during the third quarter valued at approximately $29,000. Tower Research Capital LLC TRC bought a new stake in shares of Delcath Systems in the second quarter worth approximately $40,000. Legal & General Group Plc bought a new stake in Delcath Systems in the 2nd quarter worth approximately $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Delcath Systems in the 2nd quarter worth approximately $151,000. 61.12% of the stock is currently owned by hedge funds and other institutional investors.

Delcath Systems Stock Up 22.5%

The firm has a 50 day moving average price of $12.18 and a 200 day moving average price of $10.81. The stock has a market cap of $534.06 million, a P/E ratio of 1,539.70 and a beta of 0.52.

Delcath Systems Company Profile

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.