Delcath Systems (DCTH) Stock Forecast & Price Target

Delcath Systems Inc. is poised for a positive financial outlook due to its ongoing efforts to expand treatment centers, which are expected to enhance the adoption of its primary product, Melphalan Hydrochloride for Injection, particularly with the anticipated positive outcomes from the CHOPIN data and the Medicaid National Drug Rebate Agreement program. The company is projected to achieve total revenues of $343 million by 2032, with improved margins helping to sustain and potentially grow the bottom line despite a downward revision in prior revenue expectations. Additionally, initiatives aimed at increasing referrals and expanding into new regions are expected to bolster Hepzato adoption, with solid growth anticipated in the U.S. market for 2026.

Delcath Systems Inc. has reported a 15% decline in sequential total revenues for Q3 2025, falling to $20.5 million from $24.2 million in Q2 2025, and missing consensus estimates of $23.8 million. The company has adjusted its full-year revenue guidance for FY2025 downward to $83 million-$85 million from a previous range of $93 million-$96 million, reflecting significant external pressures such as summer seasonality and competitive clinical trials that have severely impacted new patient starts. Additionally, management's lowered expectations have resulted in a cautious reduction of revenue projections for FY2026, indicating ongoing challenges in achieving sustainable growth in treatment volumes.