UPDATE: Canaccord Genuity Starts Delcath Systems (DCTH) at Buy
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Canaccord Genuity analyst Arlinda Lee initiates coverage on Delcath Systems (NASDAQ: DCTH) with a Buy rating and a price target of $24.00.
The analyst commented, "We initiate coverage of Delcath Systems with a BUY rating and $24 price target. Delcath’s Hepzato, a combination drug and device liver-directed therapy, has established efficacy, but has not achieved US regulatory approval due to its safety profile in earlier iterations. With multiple measures to mitigate safety issues into the ongoing Ph3 FOCUS trial in ocular melanoma patients with liver metastases, and with multiple Orphan designations, we are cautiously optimistic Hepzato can show a positive efficacy-safety profile."
Shares of Delcath Systems closed at $17.65 yesterday.
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