Delcath Systems (NASDAQ:DCTH) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Delcath Systems (NASDAQ:DCTH) in a report released on Friday, Benzinga reports. The firm currently has a $21.00 target price on the stock.

A number of other research firms have also recently commented on DCTH. Craig Hallum started coverage on Delcath Systems in a research note on Friday, June 28th. They set a “buy” rating and a $18.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Delcath Systems in a research note on Friday. StockNews.com cut Delcath Systems from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Stephens reiterated an “overweight” rating and issued a $25.00 price objective on shares of Delcath Systems in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, Delcath Systems has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Delcath Systems Stock Performance

DCTH opened at $11.28 on Friday. Delcath Systems has a one year low of $2.25 and a one year high of $11.74. The stock has a market capitalization of $313.43 million, a PE ratio of -4.26 and a beta of 0.78. The business’s 50 day moving average price is $9.12 and its 200 day moving average price is $7.71.

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

Institutional Trading of Delcath Systems

Hedge funds have recently modified their holdings of the stock. Levin Capital Strategies L.P. increased its holdings in Delcath Systems by 12.2% in the first quarter. Levin Capital Strategies L.P. now owns 54,969 shares of the company’s stock valued at $262,000 after buying an additional 5,969 shares during the last quarter. Marshall Wace LLP increased its holdings in Delcath Systems by 7.0% in the second quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock valued at $776,000 after buying an additional 6,066 shares during the last quarter. AIGH Capital Management LLC increased its holdings in Delcath Systems by 1.7% in the second quarter. AIGH Capital Management LLC now owns 2,399,792 shares of the company’s stock valued at $20,086,000 after buying an additional 40,064 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Delcath Systems in the second quarter valued at $370,000. Finally, Renaissance Technologies LLC purchased a new position in Delcath Systems in the second quarter valued at $694,000. 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.