Delcath Systems Inc. (NASDAQ:DCTH) down by 11.08%, Dendreon Corporation (NASDAQ:DNDN)

Posted by Chris Bell May 9, 2013 0 Comment 1318 views


Hartford, CT 05/09/2013 (GDPInsider) – Delcath Systems Inc. (NASDAQ:DCTH) tumbled 11.08% to $0.436. Its opening share price was $0.47 as compared to the previous days share closing price of $0.49. The stock rose to an intraday high of $0.47 and dipped to an intraday low of $0.43. Shares in excess of 1.14 million were traded in today’s trading session as compared to the average trading volume of 3.92 million which is calculated over a period of thirty days. The market cap of the stock at current levels is $40.03 million and beta is 1.85 which is calculated from the movement of the stock in comparison to the index. The analysts are targeting a price of about $1.93, thus there is further room for the stock to rise. The short float percentage in the company’s stock is 13.39% and the short ratio is 2.86. The price of the stock is 62.53% below its 20 days simple moving average of $1.12.

The company reported its 1Q2013 results where net loss was reported to be $30.89 million as compared to a net loss of $51.87 a year ago.

Pomerantz Grossman Hufford Dahlstrom & Gross has filed a class action lawsuit against Delcath Systems and certain of its officers, seeking to recover damages against the company. The Complaint alleged that the Defendants made false and misleading statements, and failed to disclose material adverse facts related to the Company’s business, operations, and prospects.

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Dendreon Corporation (NASDAQ:DNDN) tumbled 14.77% to $4.04. Its opening share price was $4.33 as compared to the previous days share closing price of $4.74. The stock rose to an intraday high of $3.95 and dipped to an intraday low of $4.40. Shares in excess of 5.79 million were traded in today’s trading session as compared to the average trading volume of 3.62 million which is calculated over a period of thirty days. The market cap of the stock at current levels is $623.06 million and beta is 3.84 which is calculated from the movement of the stock in comparison to the index. The analysts are targeting a price of about $6.17, thus there is further room for the stock to rise. The short float percentage in the company’s stock is 34.72% and the short ratio is 12.26. The price of the stock is 11.76% below its 20 days simple moving average of $4.54.

The company reported its 1Q2013 results and reported a net loss of $72.0 million as compared to a net loss of $103.9 million a year ago. Net product revenue was down by 17.66% YoY to $67.6 million as compared to $82.0 million in the previous year. Analysts are expecting weak results for the next quarter, and are estimating a loss to be between $0.38 and $0.42 per share.

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About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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