HC Wainwright Reiterates Buy Rating for Alpha Tau Medical (NASDAQ:DRTS)

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 40.45% from the stock’s previous close.

Several other brokerages also recently commented on DRTS. LADENBURG THALM/SH SH lifted their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research upgraded Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Piper Sandler lifted their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Finally, Citigroup boosted their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.50.

Alpha Tau Medical Trading Up 6.5%

NASDAQ:DRTS opened at $10.68 on Wednesday. The business’s 50-day simple moving average is $7.79 and its 200-day simple moving average is $6.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45. Alpha Tau Medical has a fifty-two week low of $2.81 and a fifty-two week high of $10.85. The stock has a market capitalization of $939.95 million, a PE ratio of -15.94 and a beta of 1.11.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). Sell-side analysts expect that Alpha Tau Medical will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Tau Medical

A number of institutional investors have recently made changes to their positions in DRTS. Trifecta Capital Advisors LLC bought a new stake in shares of Alpha Tau Medical in the 4th quarter valued at about $48,000. Envestnet Asset Management Inc. bought a new position in Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Bank of America Corp DE raised its holdings in Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after purchasing an additional 21,677 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Alpha Tau Medical during the 1st quarter worth approximately $132,000. Institutional investors own 2.65% of the company’s stock.

About Alpha Tau Medical

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.