Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives $8.67 Consensus Target Price from Analysts

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.6667.

Several analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Alpha Tau Medical in a report on Tuesday, March 10th. Piper Sandler reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Alpha Tau Medical in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, January 21st. Citigroup boosted their target price on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, 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.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $6.92 on Friday. 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 stock has a market capitalization of $586.95 million, a P/E ratio of -13.06 and a beta of 1.04. Alpha Tau Medical has a 52-week low of $2.30 and a 52-week high of $8.60. The firm has a 50-day moving average price of $7.21 and a 200 day moving average price of $5.53.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Equities research analysts expect that Alpha Tau Medical will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DRTS. Trifecta Capital Advisors LLC purchased a new stake in shares of Alpha Tau Medical during the 4th quarter worth approximately $48,000. Envestnet Asset Management Inc. purchased a new position in Alpha Tau Medical in the 3rd quarter valued at approximately $62,000. Bank of America Corp DE raised its holdings 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 purchasing an additional 21,677 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Alpha Tau Medical by 291.7% during the fourth 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. Finally, Millennium Management LLC purchased a new stake in Alpha Tau Medical during the third quarter worth $170,000. 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.