Alpha Tau Medical (NASDAQ:DRTS) Raised to Strong-Buy at Barclays

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by stock analysts at Barclays to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

DRTS has been the topic of a number of other reports. Citigroup raised their price objective on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. LADENBURG THALM/SH SH lifted their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a research note on Wednesday, May 20th. Finally, Piper Sandler increased their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $10.13 on Thursday. Alpha Tau Medical has a 52-week low of $2.81 and a 52-week high of $11.62. The company has a fifty day moving average of $8.26 and a 200-day moving average of $6.74. The company has a market capitalization of $915.04 million, a P/E ratio of -15.12 and a beta of 1.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). As a group, equities research analysts predict that Alpha Tau Medical will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new stake in Alpha Tau Medical during the 4th quarter valued at $48,000. Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical in the third quarter valued at about $62,000. Bank of America Corp DE raised its stake in shares of Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after acquiring an additional 21,677 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after acquiring an additional 17,500 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Alpha Tau Medical during the first quarter worth about $132,000. Institutional investors own 2.65% of the company’s stock.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd. is a medical technology company headquartered in Ness Ziona, Israel, focused on developing targeted alpha-radiation therapies for the treatment of solid tumors. The company’s core innovation, known as Diffusing Alpha-emitters Radiation Therapy (DaRT), employs short-lived radioactive isotopes to deliver high-energy alpha particles directly within or adjacent to tumor tissues. By harnessing the potent cytotoxic effects of alpha radiation, Alpha Tau Medical aims to offer a novel approach to brachytherapy that can potentially overcome radioresistance and spare surrounding healthy tissue.

The company’s lead product, Alpha DaRT, is currently being evaluated in clinical studies for a range of indications including recurrent or metastatic head and neck cancers, skin cancers, and other solid tumors.