Delcath Systems (NASDAQ:DCTH) Upgraded to “Hold” at Zacks Research

Delcath Systems (NASDAQ:DCTH) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings raised Delcath Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Delcath Systems Trading Down 2.5%

Shares of DCTH opened at $13.10 on Tuesday. The firm’s fifty day simple moving average is $11.57 and its two-hundred day simple moving average is $10.48. Delcath Systems has a 12 month low of $8.12 and a 12 month high of $13.74. The stock has a market capitalization of $452.21 million, a P/E ratio of 1,310.00 and a beta of 0.49.

Delcath Systems (NASDAQ:DCTH) last released its earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 net margin of 0.62% and a return on equity of 0.51%. As a group, research analysts predict that Delcath Systems will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Delcath Systems

Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in shares of Delcath Systems in the second quarter worth $26,000. Russell Investments Group Ltd. purchased a new position in Delcath Systems during the third quarter worth about $29,000. Tower Research Capital LLC TRC bought a new position in Delcath Systems in the 2nd quarter worth about $40,000. Legal & General Group Plc purchased a new stake in shares of Delcath Systems in the 2nd quarter valued at about $46,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Delcath Systems in the 2nd quarter valued at about $151,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

About Delcath Systems

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.