Delcath Systems, Inc. (NASDAQ:DCTH – Get Free Report)’s stock price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $15.44 and last traded at $15.2250, with a volume of 554536 shares trading hands. The stock had previously closed at $12.63.
The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.16. The firm had revenue of $29.13 million for the quarter, compared to analysts’ expectations of $26.25 million. Delcath Systems had a net margin of 0.62% and a return on equity of 0.51%.
Analysts Set New Price Targets
DCTH has been the subject of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $17.00 price objective on shares of Delcath Systems in a research note on Monday, July 13th. Zacks Research upgraded shares of Delcath Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings raised Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.17.
Hedge Funds Weigh In On Delcath Systems
Several large investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new position in shares of Delcath Systems during the second quarter worth $26,000. Russell Investments Group Ltd. purchased a new position in Delcath Systems during the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC purchased a new position in Delcath Systems during the 2nd quarter valued at about $40,000. Legal & General Group Plc acquired a new position in Delcath Systems in the 2nd quarter valued at about $46,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Delcath Systems in the 2nd quarter valued at about $151,000. 61.12% of the stock is currently owned by institutional investors and hedge funds.
Delcath Systems Price Performance
The company has a market capitalization of $534.06 million, a PE ratio of 1,539.70 and a beta of 0.52. The stock’s 50 day simple moving average is $12.18 and its 200-day simple moving average is $10.81.
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.
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