BMO Capital Markets Upgrades Perspective Therapeutics (NYSEAMERICAN:CATX) to "Strong-Buy"

Key Points

• BMO Capital Markets upgraded Perspective Therapeutics to “strong buy,” while the broader analyst consensus remains “buy” with an average price target of $11.50.
• CATX opened at $3.48, versus a 12-month range of $1.96 to $6.16. Recent analyst actions were mixed, including reduced price targets from Bank of America and Piper Sandler.
• The company beat quarterly EPS expectations, reporting a loss of $0.22 per share versus the expected loss of $0.25, though revenue was slightly below forecasts and the company remains deeply unprofitable. Institutional investors own 54.66% of the stock.

Perspective Therapeutics (NYSEAMERICAN:CATX - Get Free Report) was upgraded by equities researchers at BMO Capital Markets to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

CATX has been the subject of several other reports. Bank of America lowered their price objective on shares of Perspective Therapeutics from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Friday, August 14th. Piper Sandler reduced their target price on Perspective Therapeutics from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of Perspective Therapeutics in a research note on Tuesday, May 5th. Finally, BTIG Research restated a "buy" rating on shares of Perspective Therapeutics in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $11.50.

Perspective Therapeutics Price Performance

CATX stock opened at $3.48 on Tuesday. Perspective Therapeutics has a 12 month low of $1.96 and a 12 month high of $6.16. The company's 50-day moving average price is $3.10 and its two-hundred day moving average price is $3.95.

Perspective Therapeutics (NYSEAMERICAN:CATX - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.03. The company had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.09 million. Perspective Therapeutics had a negative net margin of 28,467.97% and a negative return on equity of 41.92%. On average, sell-side analysts expect that Perspective Therapeutics will post -1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Perspective Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CATX. Commodore Capital LP acquired a new stake in Perspective Therapeutics in the first quarter valued at approximately $26,424,000. Affinity Asset Advisors LLC increased its holdings in shares of Perspective Therapeutics by 954.9% during the first quarter. Affinity Asset Advisors LLC now owns 3,164,582 shares of the company's stock worth $13,196,000 after buying an additional 2,864,582 shares in the last quarter. Avidity Partners Management LP lifted its stake in shares of Perspective Therapeutics by 88.4% in the 1st quarter. Avidity Partners Management LP now owns 6,049,999 shares of the company's stock valued at $25,228,000 after acquiring an additional 2,839,266 shares during the last quarter. Spruce Street Capital LP bought a new position in shares of Perspective Therapeutics in the 1st quarter valued at $10,955,000. Finally, Opaleye Management Inc. acquired a new stake in shares of Perspective Therapeutics during the 4th quarter valued at $3,257,000. Institutional investors own 54.66% of the company's stock.

About Perspective Therapeutics

Perspective Therapeutics, Inc, together with its subsidiaries, develops precision-targeted alpha therapies (TAT) for oncology that treats cancer patients across multiple tumor types comprising metastatic disease. The company discovers, designs, and develop its initial programs candidates consists of VMT-a-NET, that is currently in Phase 1/2a clinical trials for patients with unresectable or metastatic somatostatin receptor type 2 (SSTR2) expressing tumors that have not previously received peptide-targeted radiopharmaceutical therapy, such as Lutathera, a beta-emitting therapy; and VMT01, which is currently in Phase 1/2a clinical trials for second-line or later treatment of patients with progressive melanocortin 1 receptor (MC1R) positive metastatic melanoma.

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