Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Buy Rating from H.C. Wainwright with $9 Price Target
H.C. Wainwright has maintained its Buy rating and set a price target of $9.00 on shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) following positive financial results and updates on clinical trials. The company reported a lower than expected net loss of $7.4 million or $0.11 per share for the second quarter of 2024. Key developments in the pipeline include progress in the ReSTART U.S. pivotal trial for Alpha DaRT and advancements in treating various types of cancer.
H.C. Wainwright's optimism is supported by upcoming milestones such as potential pre-market approval in Japan and the expansion of clinical trials to include lung and brain cancer patients. Piper Sandler also maintains its Overweight rating and a $7.00 price target, emphasizing the efficient financial management of Alpha Tau Medical.
InvestingPro Insights:
- Alpha Tau Medical has more cash than debt, providing financial stability for its clinical trials.
- The company is not expected to be profitable this year, but analysts have revised earnings upwards.
- Market capitalization is $152.16 million with a negative P/E ratio, reflecting the company's lack of profitability.
- Stock has seen volatility, with a 3.81% increase in the last month and a 28.52% decline over the past six months.
Overall, while Alpha Tau Medical shows promise in its clinical developments, investors should be cautious of its lack of profitability and the speculative nature of investing in a company focused on clinical trials. For more in-depth analysis and tips, visit InvestingPro for additional insights into the company's financials and market performance.