Stephens Cuts Delcath Systems (NASDAQ:DCTH) Price Target to $18.00

Delcath Systems (NASDAQ:DCTH) had its target price trimmed by Stephens from $25.00 to $18.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Craig Hallum reiterated a “buy” rating and set a $20.00 price objective on shares of Delcath Systems in a research report on Tuesday, October 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 target price on shares of Delcath Systems in a research report on Tuesday, October 21st. BTIG Research restated a “buy” rating and set a $23.00 price target on shares of Delcath Systems in a research note on Tuesday. Wall Street Zen lowered shares of Delcath Systems from a “buy” rating to a “hold” rating in a research note on Sunday, October 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Delcath Systems in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.40.

Delcath Systems Stock Performance

DCTH remained flat at $8.64 on Wednesday. The company had a trading volume of 1,109,433 shares, compared to its average volume of 652,219. The company’s 50-day moving average is $10.74 and its two-hundred day moving average is $12.26. Delcath Systems has a 12 month low of $8.33 and a 12 month high of $18.23. The firm has a market cap of $302.24 million, a P/E ratio of 172.80 and a beta of 0.81.

Delcath Systems (NASDAQ:DCTH) last announced its earnings results on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $23.22 million. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%. On average, sell-side analysts anticipate that Delcath Systems will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Delcath Systems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. USA Financial Formulas purchased a new position in Delcath Systems in the 2nd quarter worth $25,000. California State Teachers Retirement System acquired a new stake in shares of Delcath Systems during the second quarter worth about $26,000. Tower Research Capital LLC TRC purchased a new stake in Delcath Systems in the second quarter valued at approximately $40,000. Ameritas Investment Partners Inc. purchased a new stake in Delcath Systems in the second quarter valued at approximately $42,000. Finally, Legal & General Group Plc purchased a new position in Delcath Systems during the 2nd quarter worth approximately $46,000. 61.12% of the stock is currently owned by institutional investors and hedge funds.

About Delcath Systems

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.