Delcath Systems (NASDAQ:DCTH) Trading 9.3% Higher – Still a Buy?

Shares of Delcath Systems, Inc. (NASDAQ:DCTH) were up 9.3% during mid-day trading on Monday . The company traded as high as $16.46 and last traded at $16.51. 1,011,482 shares changed hands during trading, an increase of 113% from the average session volume of 475,969 shares. The stock had previously closed at $15.11.

Analyst Ratings Changes

Several brokerages have issued reports on DCTH. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a research note on Friday. Wall Street Zen raised Delcath Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded Delcath Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Delcath Systems in a research note on Friday. Finally, BTIG Research raised their price objective on Delcath Systems from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.17.

Delcath Systems Stock Performance

The company has a market cap of $573.11 million, a P/E ratio of 1,651.95 and a beta of 0.52. The firm has a 50 day moving average price of $12.35 and a 200-day moving average price of $10.88.

Delcath Systems (NASDAQ:DCTH) last announced its earnings results on Thursday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.16. The firm had revenue of $29.13 million for the quarter, compared to the consensus estimate of $26.25 million. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. On average, sell-side analysts forecast that Delcath Systems, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Trading of Delcath Systems

Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in shares of Delcath Systems in the 2nd quarter worth approximately $1,362,000. Bank of America Corp DE boosted its stake in Delcath Systems by 54.0% in the 1st quarter. Bank of America Corp DE now owns 57,729 shares of the company’s stock valued at $536,000 after buying an additional 20,249 shares in the last quarter. Royal Bank of Canada grew its position in Delcath Systems by 14.8% in the first quarter. Royal Bank of Canada now owns 18,383 shares of the company’s stock valued at $170,000 after acquiring an additional 2,364 shares during the period. Sei Investments Co. grew its position in Delcath Systems by 100.0% in the first quarter. Sei Investments Co. now owns 44,058 shares of the company’s stock valued at $409,000 after acquiring an additional 22,029 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in Delcath Systems during the first quarter worth $306,000. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Delcath Systems Company Profile

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company’s core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.