Piper Sandler Upgrades Alpha Tau Medical (NASDAQ:DRTS) to “Overweight”

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a $22.00 price objective on the stock, up from their previous price objective of $8.00. Piper Sandler‘s target price would indicate a potential upside of 53.31% from the stock’s previous close.

A number of other research analysts also recently issued reports on DRTS. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, October 20th. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Barclays increased their price objective on shares of Alpha Tau Medical from $17.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Alpha Tau Medical has an average rating of “Moderate Buy” and a consensus price target of $18.20.

Alpha Tau Medical Stock Performance

Shares of DRTS opened at $14.35 on Wednesday. The business’s fifty day moving average price is $14.11 and its 200 day moving average price is $10.82. Alpha Tau Medical has a 12-month low of $3.43 and a 12-month high of $15.79. The stock has a market capitalization of $1.30 billion, a PE ratio of -13.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.36). Equities research analysts forecast that Alpha Tau Medical will post -1.05 EPS for the current year.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $15.00, for a total value of $43,065.00. Following the sale, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at $1,352,700. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is owned by corporate insiders.

Institutional Trading of Alpha Tau Medical

Large investors have recently modified their holdings of the company. Everhart Financial Group Inc. bought a new stake in Alpha Tau Medical in the 2nd quarter valued at about $126,000. Renaissance Technologies LLC acquired a new position in Alpha Tau Medical during the 1st quarter valued at about $286,000. Finally, Principal Financial Group Inc. bought a new position in Alpha Tau Medical in the 1st quarter worth about $132,000. Institutional investors and hedge funds own 2.65% of the company’s stock.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing Alpha DaRT, an investigational radiation treatment for solid tumors. The company was founded in 2016 and is headquartered in Jerusalem. Alpha DaRT uses tiny sources containing radium-224 that are placed directly inside a tumor. As the material decays, it releases alpha-emitting atoms that travel a short distance through the tumor, aiming to destroy cancer cells while limiting exposure to nearby healthy tissue. The company is conducting clinical development of Alpha DaRT for multiple types of solid tumors, with research and clinical trials in Israel and other countries, including the United States and Japan.