Delcath Systems (NASDAQ:DCTH) Rating Lowered to Hold at Zacks Investment Research

Delcath Systems (NASDAQ:DCTH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Delcath Systems, Inc. has developed a system, the Delcath system, to isolate the liver from the general circulatory system and to administer chemotherapy and other therapeutic agents directly to the liver. “

Shares of NASDAQ:DCTH traded down $0.21 during mid-day trading on Thursday, reaching $9.08. 22,788 shares of the company were exchanged, compared to its average volume of 142,471. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.99 and a quick ratio of 3.78. The firm has a market cap of $66.79 million, a price-to-earnings ratio of -2.41 and a beta of 0.53. The firm’s 50-day simple moving average is $9.67 and its 200 day simple moving average is $11.91. Delcath Systems has a 1 year low of $8.28 and a 1 year high of $25.18.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings data on Monday, August 9th. The company reported ($0.96) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.98) by $0.02. The firm had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $0.40 million. Delcath Systems had a negative net margin of 1,534.53% and a negative return on equity of 166.54%. During the same quarter last year, the company posted ($1.90) EPS. On average, research analysts forecast that Delcath Systems will post -3.82 earnings per share for the current fiscal year.

In other Delcath Systems news, CEO Gerard J. Michel purchased 6,600 shares of the firm’s stock in a transaction on Friday, June 25th. The stock was bought at an average price of $11.35 per share, with a total value of $74,910.00. Following the transaction, the chief executive officer now directly owns 29,600 shares of the company’s stock, valued at approximately $335,960. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven A. J. Salamon acquired 4,500 shares of the firm’s stock in a transaction dated Thursday, June 24th. The shares were purchased at an average cost of $10.90 per share, with a total value of $49,050.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 27,850 shares of company stock valued at $326,503 in the last ninety days. 13.43% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in shares of Delcath Systems during the 2nd quarter worth $40,000. Goldman Sachs Group Inc. acquired a new stake in Delcath Systems during the 1st quarter worth $125,000. Northern Trust Corp acquired a new stake in Delcath Systems during the 2nd quarter worth $161,000. MYDA Advisors LLC acquired a new stake in Delcath Systems during the 1st quarter worth $248,000. Finally, Squarepoint Ops LLC raised its stake in Delcath Systems by 90.6% during the 2nd quarter. Squarepoint Ops LLC now owns 24,773 shares of the company’s stock worth $312,000 after acquiring an additional 11,777 shares in the last quarter. 21.67% of the stock is owned by institutional investors and hedge funds.

Delcath Systems Company Profile

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 hydrochloride for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.

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