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

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

A number of other research firms have also weighed in on DCTH. Craig Hallum began coverage on shares of Delcath Systems in a report on Friday, June 28th. They set a “buy” rating and a $18.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Delcath Systems in a research report on Tuesday, August 6th. Finally, Stephens restated an “overweight” rating and set a $25.00 target price on shares of Delcath Systems in a research report on Tuesday, August 6th.

Delcath Systems Price Performance

Shares of Delcath Systems stock traded up $0.72 during trading hours on Thursday, reaching $10.23. The company had a trading volume of 1,008,053 shares, compared to its average volume of 256,949. The firm has a market cap of $284.25 million, a PE ratio of -3.86 and a beta of 0.78. Delcath Systems has a one year low of $2.25 and a one year high of $11.74. The business has a fifty day simple moving average of $9.05 and a 200 day simple moving average of $7.66.

Delcath Systems (NASDAQ:DCTH) last issued its earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate 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 company had revenue of $7.77 million during the quarter, compared to the consensus estimate of $5.00 million. During the same quarter in the prior year, the business earned ($0.58) EPS. On average, research analysts forecast that Delcath Systems will post -1.67 EPS for the current year.

Hedge Funds Weigh In On Delcath Systems

A number of institutional investors have recently made changes to their positions in DCTH. Vanguard Group Inc. grew its position in Delcath Systems by 31.0% in the first quarter. Vanguard Group Inc. now owns 683,686 shares of the company’s stock worth $3,261,000 after acquiring an additional 161,678 shares in the last quarter. BVF Inc. IL lifted its stake in Delcath Systems by 23.1% during the first quarter. BVF Inc. IL now owns 1,202,067 shares of the company’s stock worth $5,734,000 after purchasing an additional 225,918 shares during the last quarter. Levin Capital Strategies L.P. boosted its holdings 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 purchasing an additional 5,969 shares in the last quarter. Rosalind Advisors Inc. increased its position in shares of Delcath Systems by 155.1% during the 2nd quarter. Rosalind Advisors Inc. now owns 2,650,389 shares of the company’s stock valued at $22,184,000 after purchasing an additional 1,611,561 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Delcath Systems during the 2nd quarter valued at about $966,000. Institutional investors own 61.12% of the company’s stock.

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.