Analyst Yi Chen of H.C. Wainwright reiterated a Buy rating on Alpha Tau Medical Ltd, retaining the price target of $9.00.
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Yi Chen has given his Buy rating due to a combination of factors that highlight Alpha Tau Medical Ltd’s promising developments and strategic advancements. The company has recently obtained a radioactive material license for its U.S. manufacturing facility, marking a significant operational milestone. This license allows the company to advance towards equipping the facility and initiating the production of Alpha DaRT treatments by 2026, which is crucial for both clinical trials and future commercialization.
Additionally, Alpha Tau Medical has commenced a U.S. pilot study for Alpha DaRT in treating pancreatic cancer, aiming to address a significant unmet need in oncology. The study is designed to evaluate the safety and efficacy of Alpha DaRT in combination with chemotherapy for patients with unresectable pancreatic cancer. The potential for Alpha DaRT to activate a systemic response and its application in other studies, such as glioblastoma multiforme and squamous cell carcinoma, further supports the Buy rating. These strategic initiatives and the potential market impact of Alpha DaRT contribute to the positive outlook on the company’s stock.
Chen covers the Healthcare sector, focusing on stocks such as RegenXBio, VolitionRX, and Anixa Biosciences. According to TipRanks, Chen has an average return of -4.7% and a 42.15% success rate on recommended stocks.