Royal Bank of Canada Reiterates Outperform Rating for Perspective Therapeutics (NYSE:CATX)

Perspective Therapeutics (NYSE:CATX)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $16.00 price objective on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 395.36% from the company’s previous close.

Several other research analysts have also commented on CATX. Oppenheimer cut their price objective on Perspective Therapeutics from $22.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 22nd. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of Perspective Therapeutics in a research note on Monday. Bank of America downgraded Perspective Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $5.00 in a report on Monday, November 25th. Truist Financial assumed coverage on shares of Perspective Therapeutics in a report on Wednesday, September 25th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, UBS Group initiated coverage on Perspective Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.14.

Perspective Therapeutics Stock Down 5.0 %

Perspective Therapeutics stock traded down $0.17 during mid-day trading on Tuesday, reaching $3.23. The company’s stock had a trading volume of 396,870 shares, compared to its average volume of 1,013,371. The firm’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $10.20. Perspective Therapeutics has a 12-month low of $2.70 and a 12-month high of $19.05.

Perspective Therapeutics (NYSE:CATX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). Perspective Therapeutics had a negative return on equity of 27.40% and a negative net margin of 4,096.66%. The business had revenue of $0.37 million during the quarter. On average, analysts predict that Perspective Therapeutics will post -0.88 earnings per share for the current year.

Insider Activity at Perspective Therapeutics

In related news, CFO Jonathan Robert Hunt acquired 12,829 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $3.82 per share, with a total value of $49,006.78. Following the transaction, the chief financial officer now directly owns 48,800 shares in the company, valued at approximately $186,416. This represents a 35.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heidi Henson acquired 25,975 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $3.85 per share, with a total value of $100,003.75. Following the completion of the purchase, the director now owns 25,975 shares in the company, valued at $100,003.75. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 67,570 shares of company stock worth $256,789. 3.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Perspective Therapeutics

Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Perspective Therapeutics by 3,994.9% during the third quarter. FMR LLC now owns 5,504,822 shares of the company’s stock valued at $73,489,000 after purchasing an additional 5,370,392 shares during the period. Nicholson Wealth Management Group LLC bought a new position in Perspective Therapeutics during the 3rd quarter valued at about $21,390,000. State Street Corp grew its holdings in Perspective Therapeutics by 119.6% during the 3rd quarter. State Street Corp now owns 2,190,239 shares of the company’s stock valued at $29,240,000 after purchasing an additional 1,192,812 shares during the last quarter. Hills Bank & Trust Co purchased a new stake in Perspective Therapeutics in the 3rd quarter worth about $13,722,000. Finally, Ally Bridge Group NY LLC bought a new stake in Perspective Therapeutics in the second quarter worth about $3,951,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.

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.