Delcath Systems (NASDAQ:DCTH) Downgraded to Sell at StockNews.com

Delcath Systems (NASDAQ:DCTH) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Other research analysts have also recently issued research reports about the stock. Stephens restated an “overweight” rating and issued a $25.00 target price on shares of Delcath Systems in a report on Tuesday, August 6th. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Delcath Systems in a research report on Tuesday, August 6th. Finally, Craig Hallum initiated coverage on Delcath Systems in a research note on Friday, June 28th. They issued a “buy” rating and a $18.00 target price on the stock.

Delcath Systems Price Performance

NASDAQ DCTH traded up $0.72 during trading on Thursday, hitting $10.23. 1,008,053 shares of the company’s stock traded hands, compared to its average volume of 256,949. The firm has a market cap of $284.25 million, a P/E ratio of -3.86 and a beta of 0.78. The stock has a fifty day moving average of $9.05 and a two-hundred day moving average of $7.66. Delcath Systems has a 12-month low of $2.25 and a 12-month high of $11.74.

Delcath Systems (NASDAQ:DCTH) last issued its earnings results on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.12). The company had revenue of $7.77 million for the quarter, compared to analysts’ expectations of $5.00 million. Delcath Systems had a negative net margin of 474.22% and a negative return on equity of 312.48%. During the same quarter in the prior year, the company earned ($0.58) earnings per share. As a group, analysts expect that Delcath Systems will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Levin Capital Strategies L.P. increased its stake in shares of Delcath Systems by 12.2% in the 1st quarter. Levin Capital Strategies L.P. now owns 54,969 shares of the company’s stock worth $262,000 after acquiring an additional 5,969 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Delcath Systems by 7.0% during the second quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock valued at $776,000 after purchasing an additional 6,066 shares in the last quarter. AIGH Capital Management LLC increased its stake in shares of Delcath Systems by 1.7% during the second quarter. AIGH Capital Management LLC now owns 2,399,792 shares of the company’s stock valued at $20,086,000 after purchasing an additional 40,064 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Delcath Systems during the second quarter valued at approximately $370,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Delcath Systems in the 2nd quarter worth approximately $694,000. Hedge funds and other institutional investors own 61.12% of the company’s stock.

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 for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.