Delcath Systems (NASDAQ:DCTH) Sets New 52-Week High – Still a Buy?

Delcath Systems, Inc. (NASDAQ:DCTH) reached a new 52-week high on Wednesday . The company traded as high as $16.44 and last traded at $15.89, with a volume of 13276 shares changing hands. The stock had previously closed at $16.25.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DCTH shares. Craig Hallum increased their target price on Delcath Systems from $18.00 to $21.00 and gave the company a “buy” rating in a report on Friday, January 17th. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Delcath Systems in a research note on Tuesday, January 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of Delcath Systems in a research note on Friday, October 18th. StockNews.com raised shares of Delcath Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Stephens restated a “buy” rating on shares of Delcath Systems in a research report on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.25.

Delcath Systems Price Performance

The stock’s 50 day moving average is $13.07 and its 200-day moving average is $10.67. The company has a market capitalization of $525.91 million, a P/E ratio of -12.19 and a beta of 0.86.

Hedge Funds Weigh In On Delcath Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in Delcath Systems during the 3rd quarter valued at about $808,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Delcath Systems during the fourth quarter valued at approximately $204,000. Barclays PLC bought a new stake in shares of Delcath Systems during the third quarter valued at approximately $104,000. Jane Street Group LLC purchased a new position in Delcath Systems in the 3rd quarter worth approximately $110,000. Finally, Geode Capital Management LLC lifted its position in Delcath Systems by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 251,895 shares of the company’s stock valued at $2,275,000 after acquiring an additional 7,298 shares in the last quarter. Institutional investors own 61.12% of the company’s stock.

About Delcath Systems

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.