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On Friday, H.C. Wainwright analysts raised the price target for Delcath Systems (NASDAQ:DCTH) stock to $24.00, up from the previous $22.00, while maintaining a Buy rating. The increase followed Delcath’s announcement on Sunday of their fourth-quarter financial results for 2024 and a corporate update. Currently trading at $13.22, the stock sits well below analyst targets ranging from $21 to $25. The company’s focus remains on expanding the number of HEPZATO treatment sites and its geographic reach. InvestingPro data reveals 10+ additional insights about DCTH’s valuation and growth prospects.
Delcath activated three new treatment sites in the fourth quarter of 2024 and has added two more since the beginning of 2025, bringing the total to 16 centers. Additionally, one more center is scheduled to conduct its first treatment in March, and eight centers are currently accepting referrals. H.C. Wainwright views this as a promising pipeline that should support Delcath’s growth throughout 2025.
The management of Delcath Systems has set an ambitious target of having 30 active treatment centers by the end of 2025, with a significant increase in activations expected in the latter half of the year. To aid in this expansion, Delcath plans to increase its sales regions from four to six and is bolstering its commercial team to manage the expanded territories.
In terms of international business, Delcath anticipates modest but consistent growth in Europe. The company aims to reach financial breakeven in Europe, where the centers are not only expected to contribute to clinical trials but also to produce scholarly publications.
Delcath Systems reported a substantial quarter-over-quarter revenue growth of 35% for the fourth quarter of 2024, with total revenue reaching $15.1 million, up from $11.2 million in the third quarter. The company’s impressive growth trajectory is reflected in its remarkable year-over-year revenue growth of 1,701% and strong liquidity position with a current ratio of 12.01. H.C. Wainwright projects that Delcath’s total revenues will climb from $82.3 million in 2025 to $338.7 million by 2032. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value model, suggesting potential upside from current levels. The firm reaffirmed its Buy rating on Delcath Systems and expressed optimism for the company’s growth prospects with the revised price target. Discover comprehensive analysis and 1,400+ detailed Pro Research Reports available on InvestingPro.
In other recent news, Delcath Systems reported fourth-quarter revenue of $15.1 million, surpassing the forecast of $13.62 million. The company’s gross margins reached 86%, exceeding both guidance and consensus estimates. Despite the revenue beat, Delcath posted an earnings per share (EPS) of -$0.11, missing the forecast of $0, which contributed to mixed investor sentiment. BTIG analyst Marie Thibault upgraded Delcath’s stock target to $22, maintaining a Buy rating, citing the impressive launch of Hepzato. Delcath’s Hepzato product generated $32.3 million in revenue for the year, with $13.7 million in sales during the fourth quarter. The company achieved its first positive adjusted EBITDA of $4.6 million, a notable milestone. Delcath’s expansion efforts continue, with two new centers activated in the U.S., bringing the total to 16, and a steady growth observed in Europe. The company ended the year with $53.2 million in cash and short-term investments, with no outstanding debt obligations.
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