HC Wainwright Reaffirms "Buy" Rating for Alpha Tau Medical (NASDAQ:DRTS)

Key Points

• HC Wainwright reaffirmed its Buy rating on Alpha Tau Medical (DRTS) with a $12 price target, implying roughly a 76% upside from the current stock price.
• Analyst coverage is mixed — MarketBeat shows a consensus Hold rating with an average target of $8.00 (two Buy, two Hold, one Sell).
• Shares traded at $6.82 midday with a $578M market cap; the company reported a quarterly loss of ($0.14) per share (missing estimates) and analysts project about -0.45 EPS for the fiscal year.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright's price target suggests a potential upside of 76.08% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alpha Tau Medical in a research note on Wednesday, January 21st. Piper Sandler reissued a "neutral" rating and issued a $5.00 price target on shares of Alpha Tau Medical in a research note on Wednesday, March 4th. Zacks Research upgraded shares of Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Finally, Citigroup reduced their price objective on Alpha Tau Medical from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alpha Tau Medical has a consensus rating of "Hold" and an average target price of $8.00.

Alpha Tau Medical Trading Up 1.6%

Shares of DRTS traded up $0.11 during midday trading on Tuesday, reaching $6.82. The stock had a trading volume of 91,407 shares, compared to its average volume of 397,095. The company has a market capitalization of $578.05 million, a price-to-earnings ratio of -13.13 and a beta of 1.02. The company's 50-day moving average is $6.94 and its 200 day moving average is $5.07. Alpha Tau Medical has a 12-month low of $2.30 and a 12-month high of $8.60.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). Research analysts forecast that Alpha Tau Medical will post -0.45 EPS for the current fiscal year.

Institutional Trading of Alpha Tau Medical

A number of institutional investors have recently modified their holdings of the company. Apella Capital LLC purchased a new position in Alpha Tau Medical during the 4th quarter valued at about $1,892,000. Levin Capital Strategies L.P. lifted its holdings in Alpha Tau Medical by 6.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company's stock worth $923,000 after buying an additional 12,200 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Alpha Tau Medical in the 4th quarter worth approximately $749,000. Mariner LLC grew its position in shares of Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company's stock worth $620,000 after buying an additional 1,915 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Alpha Tau Medical by 185.7% during the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company's stock valued at $534,000 after buying an additional 70,081 shares during the period. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Tau Medical Company Profile

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.

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