In a report released yesterday, Craig Bijou from Cantor Fitzgerald reiterated a Buy rating on Viewray (VRAY), with a price target of $13. The company’s shares closed yesterday at $8.75.
Bijou commented:
“: We reiterate our Overweight rating and $13 PT on VRAY shares. VRAY reported revenue of $17.7MM (+45%), essentially in line with FactSet consensus. Management reiterated the message that VRAY has the opportunity to become the standard of care in radiation therapy, but there is a lot of work necessary to capitalize on the opportunity. New management has already made significant investments in the business and added several new leaders across the company to focus on driving broader adoption of VRAY’s technology.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 14.5% and a 70.5% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $14.65 average price target, implying a 67.4% upside from current levels. In a report issued on October 24, Northland Securities also maintained a Buy rating on the stock with a $20 price target.
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Based on Viewray’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $21.99 million. In comparison, last year the company had a GAAP net loss of $11.22 million.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.
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ViewRay, Inc. engages in the research, development, and manufacture of magnetic resonance imaging (MRI) system. Its product includes MRIdian, which supports image-guided radiation therapy, stereotactic radiation therapy, and radiosurgery. The company was founded by Dinara Akzhigitova on September 6, 2013 and is headquartered in Oakwood Village, OH.
