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

Perspective Therapeutics (NYSE:CATX) had its target price cut by Royal Bank of Canada from $25.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 266.13% from the stock’s current price.

CATX has been the subject of several other research reports. Oppenheimer dropped their target price on shares of Perspective Therapeutics from $22.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 22nd. Bank of America lowered shares of Perspective Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $24.00 to $5.00 in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target (down from $20.00) on shares of Perspective Therapeutics in a report on Thursday, November 21st. Truist Financial initiated coverage on shares of Perspective Therapeutics in a report on Wednesday, September 25th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Perspective Therapeutics in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.14.

Perspective Therapeutics Stock Up 18.4 %

CATX opened at $4.37 on Monday. The business has a 50-day moving average of $11.15. Perspective Therapeutics has a 1-year low of $2.28 and a 1-year high of $19.05.

Perspective Therapeutics (NYSE:CATX) last released its earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The company had revenue of $0.37 million during the quarter. Perspective Therapeutics had a negative net margin of 4,096.66% and a negative return on equity of 27.40%. On average, equities analysts expect that Perspective Therapeutics will post -0.86 EPS for the current year.

Insider Buying and Selling at Perspective Therapeutics

In other news, CEO Johan M. Spoor bought 14,500 shares of Perspective Therapeutics stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $3.78 per share, with a total value of $54,810.00. Following the purchase, the chief executive officer now directly owns 152,072 shares of the company’s stock, valued at approximately $574,832.16. This trade represents a 10.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. WealthPlan Investment Management LLC acquired a new position in Perspective Therapeutics during the 3rd quarter valued at about $4,530,000. Hills Bank & Trust Co acquired a new position in Perspective Therapeutics during the 3rd quarter valued at about $13,722,000. Nicholson Wealth Management Group LLC acquired a new stake in shares of Perspective Therapeutics in the 3rd quarter worth approximately $21,390,000. WealthPLAN Partners LLC acquired a new stake in shares of Perspective Therapeutics in the 2nd quarter worth approximately $1,695,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Perspective Therapeutics by 214.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,268 shares of the company’s stock worth $1,369,000 after acquiring an additional 93,548 shares during the period. 54.66% of the stock is owned by institutional investors and hedge funds.

About Perspective Therapeutics

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.