Alpha Tau Medical (NASDAQ:DRTS) Price Target Raised to $8.00

Alpha Tau Medical (NASDAQ:DRTS) had its price target lifted by investment analysts at Piper Sandler from $5.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential downside of 20.24% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. LADENBURG THALM/SH SH increased their price target 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. HC Wainwright increased their target price on shares of Alpha Tau Medical from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup boosted their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Three equities 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $10.03 on Tuesday. The firm has a market cap of $882.74 million, a P/E ratio of -18.92 and a beta of 1.11. The company has a quick ratio of 7.45, a current ratio of 7.45 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $7.70 and its 200-day moving average is $6.38. Alpha Tau Medical has a 12-month low of $2.81 and a 12-month high of $10.81.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in Alpha Tau Medical during the third quarter worth about $62,000. Levin Capital Strategies L.P. increased its position in shares of Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after purchasing an additional 12,200 shares during the last quarter. Bank of America Corp DE raised its holdings 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 buying an additional 21,677 shares in the last quarter. Millennium Management LLC bought a new stake in Alpha Tau Medical in the 3rd quarter worth approximately $170,000. Finally, Mariner LLC boosted its stake in Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after buying an additional 80,129 shares in the last quarter. 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.