Delcath Systems Inc: BTIG raises target price to $17 from $16

BTIG has raised its price target for Delcath Systems Inc. (NASDAQ:DCTH) to $17 from $16, while maintaining its Buy rating on the stock. The adjustment follows the company’s recent financial performance and updated guidance for 2026. Delcath reported fourth-quarter revenue of $20.7 million, with $19.0 million attributed to its Hepzato product and $1.7 million from Chemosat. The company ended 2025 with 28 active centers, up from 25, and achieved 252% year-over-year revenue growth, maintaining a gross profit margin of 86%.

Delcath’s 2026 guidance includes at least $100 million in sales, with 20% year-over-year growth in Hepzato volume and gross margins projected between 84% and 87%. The company also plans to increase R&D spending and expand its commercial team. Despite these positive indicators, BTIG revised its forecast to reflect a net loss for 2026, citing ongoing challenges in maintaining profitability.

Meanwhile, other analysts have also expressed confidence in Delcath’s potential. Marie Thibault of BTIG reaffirmed a Buy rating with a $22 price target, and Craig-Hallum reiterated a Buy rating with a $21 target. Delcath’s stock currently trades at $9.21, with a market cap of $319 million.