Delcath Systems, Inc. (NASDAQ:DCTH) is one of the best medical device stocks to buy according to analysts. On August 6, H.C. Wainwright analyst Swayampakula Ramakanth maintained a bullish stance on Delcath Systems, Inc. (NASDAQ:DCTH), giving the stock a Buy rating and raising the price target from $29 to $31.
A medical professional holding a HEPZATO Medical Device in an operating room.
The analyst based the rating upgrade on the solid adoption and performance of Delcath Systems, Inc.’s HEPZATO product, as the company experienced a notable revenue growth in Q2, primarily attributed to HEPZATO’s sales, which underwent a significant year-over-year increase.
The analyst reasoned that the activation of several treatment centers and plans for further expansion supported this growth, suggesting a solid market presence and considerable potential for continued revenue growth.
Delcath Systems, Inc. is a specialty pharmaceutical and medical devices company that engages in the treatment of primary and metastatic liver cancers. The company’s products include CHEMOSAT and HEPZATO.
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This article is originally published at Insider Monkey.
