Barclays Upgrades Alpha Tau Medical (NASDAQ:DRTS) to Strong-Buy

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by equities research analysts at Barclays to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

DRTS has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Piper Sandler boosted their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. 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. LADENBURG THALM/SH SH lifted their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.20.

Alpha Tau Medical Stock Down 1.6%

Shares of NASDAQ DRTS opened at $10.13 on Thursday. The firm has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $6.74. The firm has a market capitalization of $915.04 million, a PE ratio of -15.12 and a beta of 1.11. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. Alpha Tau Medical has a 12 month low of $2.81 and a 12 month high of $11.62.

Alpha Tau Medical (NASDAQ:DRTS) last announced 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 -0.6 earnings per share for the current year.

Institutional Trading of Alpha Tau Medical

Hedge funds have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC bought a new stake in Alpha Tau Medical during the 4th quarter valued at $48,000. Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical in the 3rd quarter valued at $62,000. Principal Financial Group Inc. bought a new position in shares of Alpha Tau Medical in the 1st quarter worth $132,000. Bank of America Corp DE raised its position in shares of Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after acquiring an additional 21,677 shares in the last quarter. Finally, Wells Fargo & Company MN lifted 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. Hedge funds and other 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.