In a report released today, Yigal Nochomovitz from Citi maintained a Buy rating on Alpha Tau Medical Ltd, with a price target of $7.00.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that highlight the potential growth and promising developments at Alpha Tau Medical Ltd. The company is focused on executing its strategy, particularly with the upcoming topline data from the ReSTART pivotal trial for recurrent cutaneous squamous cell carcinoma and updates from the Phase 2 pancreatic cancer trial. The management’s confidence is bolstered by positive results from previous trials involving approximately 200 patients, and they anticipate surpassing a 25% objective response rate in pancreatic cancer treatments.
In addition to the clinical trials, Alpha Tau Medical Ltd is awaiting approval for its Alpha DaRT technology in Japan, with plans for a soft release to gather post-marketing data. The company is also expanding its manufacturing capabilities, having received a radioactive material license for its New Hampshire facility, with plans to open additional facilities. These strategic moves, combined with a strong cash position, contribute to the optimistic outlook and the Buy rating, despite the high-risk categorization.
In another report released on December 3, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.