Alpha Tau Medical Ltd (DRTS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright remains neutral on the stock and has a $9.00 price target.
Yi Chen’s Buy rating for Alpha Tau Medical Ltd. is grounded on a number of significant factors. Despite the reported net loss of $4.9M in the third quarter of 2023, the company’s cash reserve of $90.1M puts it in a healthy financial position to fund operations for a minimum of two years. Moreover, Alpha Tau Medical has several key clinical developments in the pipeline. These include submitting pivotal trial results for head and neck cancer to Japan’s PMDA for potential marketing authorization and expected interim safety data from the pancreatic cancer study.
The company’s ongoing clinical trials and studies also seem promising. For instance, the Canadian pancreatic cancer trial is set to report interim data soon, and top-line results are anticipated in 2024. This progress is particularly noteworthy given the urgent need for effective treatment options for pancreatic cancer. Additionally, the U.S. ReSTART trial, which began patient treatment in March 2023, is expected to complete enrollment by 2Q24. If successful, Alpha Tau Medical could be in a position to apply for marketing clearance in the U.S. for Alpha DaRT in 2024. These forthcoming clinical catalysts played a crucial role in Yi Chen’s Buy rating for Alpha Tau Medical.
In another report released on November 17, Piper Sandler also reiterated a Buy rating on the stock with a $8.00 price target.
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Alpha Tau Medical Ltd (DRTS) Company Description:
Alpha Tau is an Israel-based medical device company focusing on the research, development, and potential commercialization of the Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy) for the treatment of solid tumors.
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