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

Barclays upgraded shares of Alpha Tau Medical (NASDAQ:DRTS) to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

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

Alpha Tau Medical Trading Down 1.6%

DRTS stock opened at $10.13 on Thursday. The company has a market capitalization of $915.04 million, a PE ratio of -15.12 and a beta of 1.11. Alpha Tau Medical has a one year low of $2.81 and a one year high of $11.62. The company’s 50 day moving average price is $8.26 and its two-hundred day moving average price is $6.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). As a group, analysts predict that Alpha Tau Medical will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Apella Capital LLC bought a new position in shares of Alpha Tau Medical in the fourth quarter worth approximately $1,892,000. Levin Capital Strategies L.P. grew its holdings in shares of Alpha Tau Medical by 6.3% in the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after purchasing an additional 12,200 shares during the last quarter. Daytona Street Capital LLC bought a new stake in Alpha Tau Medical in the fourth quarter valued at $749,000. Mariner LLC boosted its holdings in Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after acquiring an additional 1,915 shares in the last quarter. Finally, Millennium Management LLC increased its position in Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after purchasing an additional 70,081 shares during the period. 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.