Delcath Systems (NASDAQ:DCTH) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Delcath Systems (NASDAQ:DCTH) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Evercore set a $27.00 price objective on Delcath Systems in a report on Thursday, February 26th. Wall Street Zen downgraded Delcath Systems from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. BTIG Research dropped their price objective on Delcath Systems from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings upgraded Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.50.

Delcath Systems Trading Up 2.5%

Shares of NASDAQ:DCTH opened at $11.34 on Monday. The stock’s 50-day moving average price is $9.98 and its two-hundred day moving average price is $9.82. Delcath Systems has a 12-month low of $8.12 and a 12-month high of $18.23. The firm has a market cap of $391.46 million, a price-to-earnings ratio of 1,134.00 and a beta of 0.54.

Delcath Systems (NASDAQ:DCTH) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.07. The company had revenue of $24.99 million for the quarter, compared to the consensus estimate of $23.51 million. Delcath Systems had a return on equity of 0.51% and a net margin of 0.62%. As a group, research analysts forecast that Delcath Systems will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DCTH. California State Teachers Retirement System bought a new stake in shares of Delcath Systems in the 2nd quarter valued at approximately $26,000. Russell Investments Group Ltd. bought a new stake in shares of Delcath Systems in the 3rd quarter valued at approximately $29,000. Tower Research Capital LLC TRC bought a new stake in shares of Delcath Systems in the 2nd quarter valued at approximately $40,000. Legal & General Group Plc bought a new stake in shares of Delcath Systems in the 2nd quarter valued at approximately $46,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Delcath Systems in the 2nd quarter valued at approximately $151,000. Institutional investors and hedge funds own 61.12% of the company’s stock.

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.