Roth MKM analyst Scott Henry raised the firm’s price target on Delcath Systems to $13 from $10 and keeps a Buy rating on the shares. The firm is adjusting its model after the company announced that it has received FDA approval for Hepzato to treat unresectable hepatic-dominant metastatic uveal melanoma. Higher pricing is largely offsetting lower volume in Roth’s model, though the firm also sees Delcath balance sheet as “solid”, the analyst tells investors in a research note.
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