Delcath Systems (NASDAQ:DCTH) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Delcath Systems (NASDAQ:DCTH) from a buy rating to a hold rating in a research report released on Saturday.

DCTH has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $29.00 target price (up from $24.00) on shares of Delcath Systems in a research note on Friday, May 23rd. Stephens reissued an “overweight” rating and set a $25.00 target price on shares of Delcath Systems in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Delcath Systems Trading Up 1.7%

Delcath Systems stock opened at $12.73 on Friday. Delcath Systems has a twelve month low of $7.17 and a twelve month high of $18.23. The stock has a 50 day moving average of $14.75 and a two-hundred day moving average of $13.81. The stock has a market capitalization of $443.21 million, a price-to-earnings ratio of -25.45 and a beta of 0.87.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Delcath Systems had a negative return on equity of 29.44% and a negative net margin of 26.38%. The company had revenue of $19.80 million for the quarter, compared to analyst estimates of $16.83 million. Equities analysts predict that Delcath Systems will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Delcath Systems

A number of large investors have recently modified their holdings of the business. Soleus Capital Management L.P. purchased a new position in Delcath Systems in the 4th quarter valued at approximately $9,644,000. Vivo Capital LLC increased its stake in Delcath Systems by 71.4% in the 4th quarter. Vivo Capital LLC now owns 1,708,579 shares of the company’s stock valued at $20,571,000 after purchasing an additional 711,574 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in Delcath Systems in the 4th quarter valued at approximately $7,371,000. Invesco Ltd. purchased a new position in Delcath Systems in the 1st quarter valued at approximately $5,084,000. Finally, Vanguard Group Inc. increased its stake in Delcath Systems by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 1,394,028 shares of the company’s stock valued at $17,746,000 after purchasing an additional 169,260 shares in the last quarter. 61.12% of the stock is owned by hedge funds and other institutional investors.

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.