Alpha Tau Medical (NASDAQ:DRTS) Price Target Raised to $9.00 at Citigroup

Alpha Tau Medical (NASDAQ:DRTS) had its target price boosted by Citigroup from $7.00 to $9.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms have also weighed in on DRTS. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Alpha Tau Medical in a report on Tuesday. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Piper Sandler reiterated a “neutral” rating and set a $5.00 price target on shares of Alpha Tau Medical in a report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.67.

Alpha Tau Medical Trading Up 2.9%

Shares of DRTS stock opened at $7.04 on Wednesday. The firm has a market capitalization of $597.13 million, a price-to-earnings ratio of -13.28 and a beta of 1.02. The business’s 50-day moving average price is $7.01 and its 200-day moving average price is $5.11. Alpha Tau Medical has a 12 month low of $2.30 and a 12 month high of $8.60.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). On average, sell-side analysts predict that Alpha Tau Medical will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DRTS. Trifecta Capital Advisors LLC acquired a new position in shares of Alpha Tau Medical in the 4th quarter worth approximately $48,000. Envestnet Asset Management Inc. bought a new position in Alpha Tau Medical during the third quarter worth $62,000. Bank of America Corp DE raised its stake in 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 worth $101,000 after buying an additional 21,677 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after buying an additional 17,500 shares during the period. Finally, Millennium Management LLC acquired a new position in Alpha Tau Medical in the third quarter valued at $170,000. 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.