Share Repurchase Plan Declared by Delcath Systems (NASDAQ:DCTH) Board of Directors

Delcath Systems (NASDAQ:DCTH) announced that its Board of Directors has initiated a share buyback program on Thursday, November 20th, RTT News reports. The company plans to repurchase $25.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Delcath Systems Stock Performance

Shares of NASDAQ DCTH traded down $0.32 during mid-day trading on Thursday, hitting $8.19. The stock had a trading volume of 1,003,961 shares, compared to its average volume of 655,757. The firm has a market cap of $289.22 million, a PE ratio of 163.80 and a beta of 0.81. The company has a 50 day moving average of $10.27 and a two-hundred day moving average of $12.04. Delcath Systems has a twelve month low of $8.12 and a twelve month high of $18.23.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $20.56 million for the quarter, compared to the consensus estimate of $23.22 million. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%. Equities research analysts predict that Delcath Systems will post -0.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on DCTH shares. Wall Street Zen downgraded shares of Delcath Systems from a “buy” rating to a “hold” rating in a report on Sunday, October 12th. HC Wainwright set a $30.00 target price on shares of Delcath Systems and gave the stock a “buy” rating in a research report on Monday, October 20th. Craig Hallum reissued a “buy” rating and set a $20.00 target price on shares of Delcath Systems in a research report on Tuesday, October 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Delcath Systems in a research report on Tuesday, October 21st. Finally, Stephens reduced their price objective on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Delcath Systems currently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

Insider Buying and Selling at Delcath Systems

In other Delcath Systems news, CEO Gerard J. Michel bought 11,500 shares of Delcath Systems stock in a transaction that occurred on Tuesday, November 11th. The stock was purchased at an average price of $8.53 per share, with a total value of $98,095.00. Following the completion of the acquisition, the chief executive officer directly owned 330,834 shares in the company, valued at approximately $2,822,014.02. This trade represents a 3.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.94% of the stock is owned by insiders.

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.