In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Alpha Tau Medical Ltd (DRTS – Research Report), with a price target of $9.00.
Yi Chen has given his Buy rating due to a combination of factors that indicate potential for Alpha Tau Medical Ltd’s growth and success in the near future. Alpha Tau’s financials, though reflecting a net loss, show they have sufficient cash to sustain operations for the coming two years. Looking ahead, Chen anticipates 2024 to be a year filled with pivotal clinical milestones, such as the completion of patient recruitment in several key trials, including the ReSTART U.S. pivotal trial for recurrent cutaneous squamous cell carcinoma and a Canadian trial for inoperable pancreatic cancer. Furthermore, the potential Japanese pre-market approval for Alpha DaRT in recurrent head & neck cancer by the end of 2024 is seen as a significant value driver for the company.
Additionally, Yi Chen’s optimism is bolstered by promising interim results from Alpha Tau’s trials, particularly in advanced pancreatic cancer where preliminary data showed stable disease responses and a partial response in one patient. The success in delivering Alpha DaRT treatment in all cases and the mild severity of related adverse events further reinforce the positive outlook. The expansion of clinical sites and the upcoming construction of new facilities also contribute to the rationale behind the Buy rating. These developments, combined with the expected acceleration in patient enrollment and the anticipation of topline trial results by the end of 2024, underscore Chen’s confidence in Alpha Tau’s potential for significant advancements and regulatory achievements in the coming year.
Chen covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals, LifeMD, and Alimera. According to TipRanks, Chen has an average return of -19.7% and a 28.63% success rate on recommended stocks.
In another report released on March 8, Piper Sandler also reiterated a Buy rating on the stock with a $7.00 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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