Royal Bank of Canada Cuts Perspective Therapeutics (NYSE:CATX) Price Target to $16.00

Perspective Therapeutics (NYSE:CATX) had its price target decreased by analysts at Royal Bank of Canada from $25.00 to $16.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 300.00% from the stock’s current price.

Several other brokerages also recently issued reports on CATX. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target (down from $20.00) on shares of Perspective Therapeutics in a research report on Thursday. Oppenheimer dropped their price objective on shares of Perspective Therapeutics from $22.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Perspective Therapeutics in a research report on Monday, September 9th. Truist Financial started coverage on Perspective Therapeutics in a research report on Wednesday, September 25th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Bank of America downgraded shares of Perspective Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $5.00 in a report on Monday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Perspective Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.14.

Perspective Therapeutics Stock Up 15.3 %

Shares of CATX traded up $0.53 during mid-day trading on Monday, reaching $4.00. The company’s stock had a trading volume of 1,691,214 shares, compared to its average volume of 800,430. Perspective Therapeutics has a 1 year low of $2.28 and a 1 year high of $19.05. The company has a fifty day moving average price of $11.52.

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). The company had revenue of $0.37 million during the quarter. Perspective Therapeutics had a negative return on equity of 27.40% and a negative net margin of 4,096.66%. On average, analysts expect that Perspective Therapeutics will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perspective Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in Perspective Therapeutics during the third quarter worth approximately $57,000. US Bancorp DE lifted its stake in shares of Perspective Therapeutics by 142.7% during the 3rd quarter. US Bancorp DE now owns 6,576 shares of the company’s stock worth $88,000 after buying an additional 3,866 shares during the last quarter. Intech Investment Management LLC acquired a new position in Perspective Therapeutics in the 3rd quarter valued at about $137,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Perspective Therapeutics in the 3rd quarter valued at about $152,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Perspective Therapeutics during the third quarter worth approximately $153,000. 54.66% of the stock is owned by institutional investors.

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.