BTIG Research Issues Pessimistic Forecast for Delcath Systems (NASDAQ:DCTH) Stock Price

by · The Markets Daily

Delcath Systems (NASDAQ:DCTH – Get Free Report) had its price objective lowered by BTIG Research from $23.00 to $19.00 in a report issued on Thursday, Marketbeat reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 107.20% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Delcath Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday, December 29th. Stephens reduced their price objective on Delcath Systems from $25.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Delcath Systems in a research note on Friday, January 9th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.60.

Read Our Latest Analysis on Delcath Systems

Delcath Systems Trading Down 10.2%

Shares of DCTH stock traded down $1.04 during trading hours on Thursday, hitting $9.17. 825,260 shares of the company were exchanged, compared to its average volume of 497,457. The stock has a market capitalization of $323.79 million, a price-to-earnings ratio of 918.00 and a beta of 0.37. The firm has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $10.22. Delcath Systems has a 52-week low of $8.12 and a 52-week high of $18.23.

Delcath Systems (NASDAQ:DCTH – Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Delcath Systems had a return on equity of 7.02% and a net margin of 1.50%.The company had revenue of $20.73 million during the quarter, compared to analyst estimates of $20.35 million. Sell-side analysts anticipate that Delcath Systems will post -0.79 EPS for the current year.

Delcath Systems announced that its board has approved a stock buyback program on Thursday, November 20th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Delcath Systems

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System bought a new stake in shares of Delcath Systems in the second quarter worth $26,000. Russell Investments Group Ltd. purchased a new stake in shares of Delcath Systems during the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC purchased a new position in shares of Delcath Systems in the second quarter worth approximately $40,000. Ameritas Investment Partners Inc. purchased a new stake in Delcath Systems during the second quarter valued at approximately $42,000. Finally, Legal & General Group Plc purchased a new position in shares of Delcath Systems during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 61.12% of the company’s stock.

Delcath Systems Company Profile

(Get Free Report)

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.

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