Wedbush Reiterates Outperform Rating for Perspective Therapeutics (NYSE:CATX)

Perspective Therapeutics (NYSE:CATX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a report released on Thursday,RTT News reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $20.00. Wedbush’s price objective would indicate a potential upside of 217.00% from the stock’s previous close.

A number of other brokerages have also recently weighed in on CATX. Oppenheimer reiterated an “outperform” rating and issued a $22.00 target price on shares of Perspective Therapeutics in a report on Friday, October 11th. UBS Group began coverage on Perspective Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $20.00 price objective on the stock. Truist Financial initiated coverage on shares of Perspective Therapeutics in a research report on Wednesday, September 25th. They set a “buy” rating and a $21.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Perspective Therapeutics in a research report on Monday, September 9th. Finally, Royal Bank of Canada dropped their price objective on shares of Perspective Therapeutics from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $19.43.

Perspective Therapeutics Stock Performance

Shares of CATX stock opened at $3.47 on Thursday. The business’s 50-day moving average is $11.75. Perspective Therapeutics has a 1-year low of $2.28 and a 1-year high of $19.05.

Perspective Therapeutics (NYSE:CATX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.21). Perspective Therapeutics had a negative net margin of 4,096.66% and a negative return on equity of 27.40%. The company had revenue of $0.37 million for the quarter. Analysts forecast that Perspective Therapeutics will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perspective Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Perspective Therapeutics by 34.6% in the first quarter. Vanguard Group Inc. now owns 17,780,106 shares of the company’s stock valued at $21,158,000 after purchasing an additional 4,566,356 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Perspective Therapeutics during the 1st quarter valued at approximately $15,511,000. Virtu Financial LLC acquired a new stake in shares of Perspective Therapeutics during the first quarter worth approximately $138,000. Bank of New York Mellon Corp grew its position in shares of Perspective Therapeutics by 214.0% during the second quarter. Bank of New York Mellon Corp now owns 137,268 shares of the company’s stock worth $1,369,000 after buying an additional 93,548 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Perspective Therapeutics in the second quarter valued at $630,000. 54.66% of the stock is owned by institutional investors and hedge funds.

Perspective Therapeutics Company Profile

Perspective Therapeutics, Inc, together with its subsidiaries, develops precision-targeted alpha therapies (TAT) for oncology that treats cancer patients across multiple tumor types comprising metastatic disease. The company discovers, designs, and develop its initial programs candidates consists of VMT-a-NET, that is currently in Phase 1/2a clinical trials for patients with unresectable or metastatic somatostatin receptor type 2 (SSTR2) expressing tumors that have not previously received peptide-targeted radiopharmaceutical therapy, such as Lutathera, a beta-emitting therapy; and VMT01, which is currently in Phase 1/2a clinical trials for second-line or later treatment of patients with progressive melanocortin 1 receptor (MC1R) positive metastatic melanoma.