Piper Sandler analyst Jason Bednar downgraded Alpha Tau (DRTS) to Neutral from Overweight with an unchanged price target of $5. The firm cites valuation for the downgrade. The stock rallied after a “handful of minor fundamental positives,” the analyst tells investors in a research note. Piper believes the next leg higher for the stock will require real revenue realization to be a near-term event. However, Alpha ‘s path to full commercialization of its DaRT technology is still at least 2-3 years away, contends the firm.
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