Alpha Tau price target lowered to $5 from $7 at Piper Sandler

Piper Sandler lowered the firm’s price target on Alpha Tau (DRTS) to $5 from $7 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 results, including an operating loss of $8.3M that came in slightly better than consensus and a cash burn that remained relatively low at about $5.8M. As for clinical work, expectations for completed enrollment in the U.S. pivotal trial were updated to the first half of 2025, though Piper is encouraged by the progress that is being made on multiple fronts with indications for internal organs.