Delcath Systems (NASDAQ:DCTH) Sets New 1-Year High – Here’s Why

Delcath Systems, Inc. (NASDAQ:DCTH)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.44 and last traded at $15.89, with a volume of 13276 shares traded. The stock had previously closed at $16.25.

Wall Street Analysts Forecast Growth

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

Delcath Systems Price Performance

The company has a fifty day moving average price of $13.07 and a 200 day moving average price of $10.67. The company has a market cap of $525.91 million, a PE ratio of -12.19 and a beta of 0.86.

Hedge Funds Weigh In On Delcath Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of DCTH. Charles Schwab Investment Management Inc. bought a new stake in shares of Delcath Systems during the 4th quarter worth $156,000. Private Advisor Group LLC bought a new stake in Delcath Systems during the fourth quarter worth about $153,000. Principal Financial Group Inc. boosted its holdings in shares of Delcath Systems by 28.8% in the 4th quarter. Principal Financial Group Inc. now owns 115,183 shares of the company’s stock worth $1,387,000 after purchasing an additional 25,736 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Delcath Systems in the 4th quarter worth about $204,000. Finally, Virtu Financial LLC bought a new position in shares of Delcath Systems during the 3rd quarter valued at about $289,000. Hedge funds and other 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.