In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Delcath Systems (DCTH – Research Report), with a price target of $21.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
John Newman has given his Buy rating due to a combination of factors that highlight Delcath Systems’ promising growth prospects. The company’s management has reaffirmed their guidance for 2025, projecting revenues between $94 million and $98 million for their Hepzato treatment. This confidence is bolstered by the expected increase in treatment volume from the 340b program, which offers a significant price discount to hospitals, thereby encouraging more widespread use of Hepzato.
Furthermore, Delcath Systems is poised for long-term expansion with potential market opportunities in colorectal and breast cancer, estimated at $2 billion and $1 billion, respectively. The upcoming CHOPIN study results could further enhance Hepzato’s applicability in treating uveal melanoma, potentially increasing its patient base. These factors, combined with the company’s strategic initiatives and market potential, underpin Newman’s Buy rating and the $21 price target.
In another report released on May 23, H.C. Wainwright also maintained a Buy rating on the stock with a $29.00 price target.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DCTH in relation to earlier this year.