Clear Street Raises Delcath Systems, Inc. (DCTH) Target to $29, Maintains Buy Rating

Company Overview - Delcath Systems, Inc. (NASDAQ:DCTH) was founded on August 5, 1988, and is headquartered in Queensbury, New York. The company specializes in developing interventional oncology therapies for primary and metastatic liver cancers, including the Hepzato and Chemosat Hepatic Delivery System [4]. Financial Performance - Delcath Systems reported preliminary, unaudited fourth-quarter revenue of approximately $20.7 million and full-year 2025 revenue of $85.2 million, driven primarily by Hepzato sales totaling about $19.0 million for the quarter and $78.8 million for the year [3]. - The company demonstrated strong operating cash flow and minimal leverage, which supports internal funding of clinical programs and a previously announced share repurchase plan [3]. Analyst Ratings - Clear Street raised its price target on Delcath Systems to $29 from $28 while maintaining a Buy rating, citing that Hepzato has become a steadier revenue contributor with improved predictability and sufficient cash generation to support expansion into additional indications [1][3].