Alpha Tau Medical (NASDAQ:DRTS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Alpha Tau Medical (NASDAQ:DRTS) had its target price lifted by Piper Sandler from $5.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 20.24% from the company’s previous close.

DRTS has been the subject of several other reports. Zacks Research upgraded Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. LADENBURG THALM/SH SH upped their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Citigroup increased 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. HC Wainwright raised their price objective on Alpha Tau Medical from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.50.

Alpha Tau Medical Trading Down 3.2%

NASDAQ:DRTS opened at $10.03 on Tuesday. Alpha Tau Medical has a 52 week low of $2.81 and a 52 week high of $10.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.45 and a current ratio of 7.45. The firm’s fifty day moving average is $7.70 and its 200-day moving average is $6.38. The firm has a market cap of $882.74 million, a P/E ratio of -18.92 and a beta of 1.11.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Equities analysts expect that Alpha Tau Medical will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Tau Medical

Large investors have recently made changes to their positions in the business. Trifecta Capital Advisors LLC purchased a new stake in Alpha Tau Medical during the fourth quarter worth about $48,000. Envestnet Asset Management Inc. purchased a new position in Alpha Tau Medical in the third quarter valued at about $62,000. Principal Financial Group Inc. purchased a new position in Alpha Tau Medical in the first quarter valued at about $132,000. Bank of America Corp DE grew its position in shares of 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 valued at $101,000 after acquiring an additional 21,677 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of 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. 2.65% of the stock is owned by hedge funds and other institutional investors.

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.