Bank of America Downgrades Perspective Therapeutics (NYSE:CATX) to Neutral

Perspective Therapeutics (NYSE:CATX) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Monday,Briefing.com Automated Import reports. They currently have a $5.00 price objective on the stock, down from their prior price objective of $24.00. Bank of America‘s price target indicates a potential upside of 44.09% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective (down previously from $20.00) on shares of Perspective Therapeutics in a research report on Thursday. UBS Group began coverage on shares of Perspective Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $20.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Perspective Therapeutics in a research report on Monday, September 9th. Oppenheimer reduced their target price on shares of Perspective Therapeutics from $22.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday. 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perspective Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Perspective Therapeutics Stock Performance

Shares of Perspective Therapeutics stock opened at $3.47 on Monday. The firm has a fifty day simple moving average of $11.52. Perspective Therapeutics has a 52-week low of $2.28 and a 52-week high of $19.05.

Perspective Therapeutics (NYSE:CATX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The firm 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%. Analysts expect that Perspective Therapeutics will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Perspective Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CATX. Janus Henderson Group PLC bought a new stake in shares of Perspective Therapeutics during the 1st quarter worth about $15,511,000. FMR LLC raised its position in shares of Perspective Therapeutics by 3,994.9% in the 3rd quarter. FMR LLC now owns 5,504,822 shares of the company’s stock valued at $73,489,000 after buying an additional 5,370,392 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Perspective Therapeutics by 34.6% in the 1st 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 in the last quarter. Nicholson Wealth Management Group LLC acquired a new stake in Perspective Therapeutics in the third quarter valued at about $21,390,000. Finally, State Street Corp grew its holdings in shares of 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. 54.66% of the stock is owned by institutional investors.

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.