On Wednesday, Delcath Systems Inc. (NASDAQ:DCTH) shares, received an updated price target from H.C. Wainwright. The firm raised its price target up to $22.00, up from the previous $20.00, while reaffirming its Buy rating.
The adjustment followed Delcath's announcement of its first-quarter financial results on Tuesday. The company reported revenue of $3.1 million and a net loss of $0.45 per share. These figures surpassed consensus estimates, which had projected revenues of $2.2 million and a net loss of $0.47 per share.
H.C. Wainwright's decision to maintain a Buy rating and increase the price target reflects confidence in Delcath's performance and future prospects.
The firm's analyst cited the recent financial outcomes as a key factor in the decision to adjust the price target, signaling optimism about the company's trajectory.
Delcath Systems specializes in the treatment of primary and metastatic liver cancers and is known for its proprietary percutaneous hepatic perfusion (PHP) technology.
The positive financial results, coupled with the raised price target, may indicate a favorable outlook for the company's growth and its medical technologies.
The raised price target to $22 from $20 represents a notable endorsement from H.C. Wainwright, potentially influencing market perception and investor sentiment regarding Delcath's stock.
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