Delcath Systems, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on the stock and has a $30.00 price target.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Delcath Systems’ potential for growth despite recent challenges. The company recently presented promising clinical data from the CHOPIN Phase 2 trial, which met its primary endpoint of improved one-year progression-free survival. This positive outcome is expected to enhance the adoption of Delcath’s treatment systems, supported by the Medicaid National Drug Rebate Agreement program.
Despite a downward revision in revenue guidance for FY2025, the company is still projected to achieve significant year-over-year growth. Delcath’s management is actively expanding treatment centers, which is anticipated to drive further adoption. Additionally, the company holds a strong cash position, which is deemed sufficient to support its operations moving forward. These factors collectively contribute to the Buy rating, as Delcath Systems presents an attractive opportunity for long-term investors, especially if there is any short-term market weakness.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $21.00 price target.