H.C. Wainwright Reiterates a Buy on Delcath Systems (DCTH), Lowers the PT

Company Overview - Delcath Systems, Inc. (NASDAQ:DCTH) specializes in interventional oncology treatments for liver cancers, with main products including the HEPZATO KIT and CHEMOSAT Hepatic Delivery System [4] Financial Performance - For fiscal Q3 2025, Delcath reported revenue of $20.6 million, a significant increase from $11.2 million in the same quarter last year [2] - The company's EPS was $0.02, exceeding consensus estimates by $0.08 [2] - Revenue from the HEPZATO KIT grew to $19.3 million from $10 million year-over-year, while CHEMOSAT revenue increased from $1.2 million to $1.3 million [2] - Gross margins improved from 85% to 87% during the same period [2] Guidance and Outlook - Despite strong Q3 performance, management lowered full-year revenue guidance to a range of $83 million to $85 million, down from the previous range of $93 million to $96 million [3] - The reduction in guidance is attributed to a slowdown in new patient starts, partially due to seasonal factors [3] Analyst Rating - Analyst Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Delcath but lowered the price target from $31 to $30 [1]