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Analyst Explains Why They Downgraded Their Rating on IsoRay (ISR)


Maxim Group analyst Jason McCarthy downgraded IsoRay (ISR) to Hold today. The company’s shares closed yesterday at $0.44.

McCarthy wrote:

“IsoRay reported the September quarter (FYE: June) with Cs-131 revenue of $1.56M, down 2.5% sequentially, and flat with the Dec and Mar quarters. The company ended the period with $9.2M in cash, including net proceeds of $8.25M from a July equity financing. Our fundamental view of Cs-131 is as a superior isotope for radio-therapy remains intact though IsoRay continues to struggle to drive revenue growth. It’s still early stage for Blu-Build and the question is can GammaTile be the answer? At this point it’s too early to tell and we see only incremental revenue growth. As such, we opt to step down to a Hold rating, from Buy, remove our price target.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for IsoRay with a $1 average price target.

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Based on IsoRay’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.36 million. In comparison, last year the company had a GAAP net loss of $1.55 million.

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IsoRay, Inc. is a medical technology company, which engages in the development, manufacture, and sale of isotope-based medical products and devices. The company focuses on the treatment of cancer and other malignant diseases. Its core product is Cesium-131, a radioisotope for the treatment of malignant tumors.