Delcath Systems (NASDAQ:DCTH) Receives Buy Rating from Canaccord Genuity Group

Delcath Systems (NASDAQ:DCTH)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $21.00 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 102.51% from the stock’s current price.

DCTH has been the topic of several other reports. StockNews.com downgraded Delcath Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Craig Hallum assumed coverage on Delcath Systems in a report on Friday, June 28th. They set a “buy” rating and a $18.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Delcath Systems in a research report on Friday. Finally, Stephens reissued an “overweight” rating and set a $25.00 price target on shares of Delcath Systems in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Delcath Systems Stock Performance

NASDAQ DCTH traded up $0.14 on Friday, reaching $10.37. 59,349 shares of the stock traded hands, compared to its average volume of 255,879. Delcath Systems has a 12 month low of $2.25 and a 12 month high of $11.74. The company has a fifty day moving average price of $9.05 and a 200-day moving average price of $7.66. The company has a market cap of $288.14 million, a price-to-earnings ratio of -3.91 and a beta of 0.78.

Delcath Systems (NASDAQ:DCTH) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.12). The company had revenue of $7.77 million during the quarter, compared to the consensus estimate of $5.00 million. Delcath Systems had a negative return on equity of 312.48% and a negative net margin of 474.22%. During the same period in the previous year, the firm posted ($0.58) earnings per share. As a group, research analysts anticipate that Delcath Systems will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Levin Capital Strategies L.P. grew its position in Delcath Systems by 12.2% during the first quarter. Levin Capital Strategies L.P. now owns 54,969 shares of the company’s stock valued at $262,000 after buying an additional 5,969 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Delcath Systems in the second quarter valued at approximately $370,000. Renaissance Technologies LLC purchased a new stake in shares of Delcath Systems in the second quarter valued at approximately $694,000. Marshall Wace LLP raised its stake in shares of Delcath Systems by 7.0% during the 2nd quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock worth $776,000 after buying an additional 6,066 shares during the period. Finally, Legato Capital Management LLC purchased a new position in shares of Delcath Systems during the 2nd quarter valued at approximately $966,000. 61.12% of the stock is owned by institutional investors and hedge funds.

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.