HC Wainwright Comments on Delcath Systems, Inc.’s FY2023 Earnings (NASDAQ:DCTH)

Delcath Systems, Inc. (NASDAQ:DCTH) – Research analysts at HC Wainwright dropped their FY2023 earnings per share estimates for shares of Delcath Systems in a research note issued on Tuesday, November 14th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings of ($3.17) per share for the year, down from their previous estimate of ($2.27). HC Wainwright has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Delcath Systems’ current full-year earnings is ($2.13) per share. HC Wainwright also issued estimates for Delcath Systems’ Q4 2023 earnings at ($0.67) EPS, Q1 2024 earnings at ($0.58) EPS, Q2 2024 earnings at ($0.46) EPS, Q3 2024 earnings at ($0.45) EPS, Q4 2024 earnings at ($0.42) EPS and FY2024 earnings at ($1.90) EPS.

A number of other research analysts also recently commented on DCTH. StockNews.com started coverage on Delcath Systems in a report on Thursday, October 5th. They issued a “sell” rating for the company. Roth Mkm increased their target price on Delcath Systems from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Canaccord Genuity Group lifted their price target on shares of Delcath Systems from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Finally, BTIG Research increased their price objective on shares of Delcath Systems from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Delcath Systems has an average rating of “Moderate Buy” and an average target price of $18.00.

Delcath Systems Price Performance

NASDAQ:DCTH opened at $2.36 on Thursday. The firm has a 50-day moving average of $3.71 and a two-hundred day moving average of $4.97. The stock has a market cap of $36.06 million, a P/E ratio of -0.70 and a beta of 0.51. Delcath Systems has a 1-year low of $2.25 and a 1-year high of $7.99.

Delcath Systems (NASDAQ:DCTH) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.10). The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $0.68 million.

Insider Activity

In other Delcath Systems news, COO John Purpura acquired 14,505 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was purchased at an average price of $3.44 per share, with a total value of $49,897.20. Following the completion of the acquisition, the chief operating officer now directly owns 41,526 shares in the company, valued at approximately $142,849.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Delcath Systems news, COO John Purpura bought 14,505 shares of the business’s stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $3.44 per share, with a total value of $49,897.20. Following the completion of the acquisition, the chief operating officer now directly owns 41,526 shares of the company’s stock, valued at approximately $142,849.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Richard Sylvester bought 10,550 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $4.80 per share, with a total value of $50,640.00. Following the completion of the purchase, the director now owns 10,550 shares of the company’s stock, valued at $50,640. The disclosure for this purchase can be found here. Company insiders own 21.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Delcath Systems by 107.8% during the first quarter. Tower Research Capital LLC TRC now owns 4,663 shares of the company’s stock valued at $26,000 after acquiring an additional 2,419 shares during the period. Millennium Management LLC bought a new stake in Delcath Systems in the 2nd quarter valued at about $40,000. GSA Capital Partners LLP bought a new stake in Delcath Systems in the 3rd quarter valued at about $63,000. Virtu Financial LLC acquired a new position in Delcath Systems during the 2nd quarter valued at about $64,000. Finally, Renaissance Technologies LLC bought a new position in Delcath Systems in the 1st quarter worth about $70,000. 85.15% of the stock is currently owned by institutional investors.

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.