Saying the filing of the NDA for their Chemosaturation system helps give better guidance to when the FDA may approve ot it, Canaccord raised their price target on Delcath Systems (NASDAQ:DCTH).
Canaccord said, "Delcath filed the NDA for its novel Chemosaturation system, in line with guidance and our expectations (YE:2010). The NDA filing gives us more confidence in the company’s guidance for FDA approval timing (mid-2011); we model late 2011, reflecting conservatism. Given DCTH has achieved this important milestone, we increase our price target to $16.50, reiterate our rating and recommend risk-tolerant investors accumulate shares of DCTH."
Canaccord Genuity maintains a "Speculative Buy" on Delcath Systems, which last closed at $10.09, down $0.02, or 0.20 percent. They raised their price target on them to $16.50.
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