H.C. Wainwright maintains Buy on Alpha Tau stock, $9 target

Tuesday, H.C. Wainwright reiterated a Buy rating on Alpha Tau Medical (TASE:BLWV) Ltd. (NASDAQ:DRTS) with a price target of $9.00, representing significant upside from the current price of $2.66. The firm’s analyst, Yi Chen, provided insights following the company’s reported financial results for the full year of 2024. Alpha Tau Medical disclosed a net loss of $31.8 million, or ($0.45) per share, a figure that slightly exceeded H.C. Wainwright’s estimated loss of $30.9 million. According to InvestingPro data, analyst consensus remains strongly bullish, with price targets ranging from $5.00 to $13.00.

The company’s management is looking ahead to several significant events in 2025. These include treating the first brain cancer patient in Israel in the first half of the year and enrolling the first participant in a pancreatic cancer pilot study in the United States in the second quarter. Additionally, Alpha Tau Medical plans to seek FDA IDE approval in the second quarter to conduct an early feasibility study for recurrent glioblastoma multiforme (GBM) patients. InvestingPro analysis shows the company maintains a strong financial position with a healthy current ratio of 7.4, indicating robust liquidity to support these clinical initiatives.

Further milestones expected in 2025 consist of a response from the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan regarding pre-market approval for Alpha DaRT in patients with recurrent head and neck cancer in the third quarter. The company also anticipates completing patient recruitment for the ReSTART U.S. pivotal trial in recurrent cutaneous squamous cell carcinoma within the same timeframe.

The company’s Hudson (NYSE:HUD), New Hampshire facility is nearing the end of its first construction phase and is expected to begin production of Alpha DaRT later in the year. The analyst’s reiteration of the Buy rating and price target reflects these upcoming clinical and regulatory catalysts that could impact the company’s progress and stock performance. For deeper insights into DRTS’s valuation and additional analyst perspectives, InvestingPro subscribers have access to over 30 financial metrics and exclusive analysis tools.

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