Alpha Tau Medical (NASDAQ:DRTS) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Alpha Tau Medical (NASDAQ:DRTS) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has $22.00 price target on the stock, up from their prior price target of $8.00.

Several other analysts also recently commented on the stock. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Thursday, October 15th. Barclays upped their target price on shares of Alpha Tau Medical from $17.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Alpha Tau Medical in a research note on Tuesday, October 20th. Finally, Benchmark reissued a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.20.

Alpha Tau Medical Price Performance

NASDAQ DRTS opened at $14.02 on Wednesday. The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15. Alpha Tau Medical has a 12 month low of $3.43 and a 12 month high of $15.79. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -13.48 and a beta of 1.28. The company’s 50 day moving average is $14.11 and its two-hundred day moving average is $10.85.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). As a group, research analysts anticipate that Alpha Tau Medical will post -1.05 earnings per share for the current year.

Insider Transactions at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $43,065.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at $1,352,700. This trade represents a 3.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alpha Tau Medical

Hedge funds have recently modified their holdings of the stock. Everhart Financial Group Inc. bought a new position in shares of Alpha Tau Medical during the second quarter worth $126,000. Principal Financial Group Inc. purchased a new position in Alpha Tau Medical during the first quarter valued at $132,000. Finally, Renaissance Technologies LLC purchased a new position in Alpha Tau Medical during the first quarter valued at $286,000. Hedge funds and other institutional investors own 2.65% of the company’s stock.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing Alpha DaRT, an investigational radiation treatment for solid tumors. The company was founded in 2016 and is headquartered in Jerusalem. Alpha DaRT uses tiny sources containing radium-224 that are placed directly inside a tumor. As the material decays, it releases alpha-emitting atoms that travel a short distance through the tumor, aiming to destroy cancer cells while limiting exposure to nearby healthy tissue. The company is conducting clinical development of Alpha DaRT for multiple types of solid tumors, with research and clinical trials in Israel and other countries, including the United States and Japan.