Maxim Group analyst Jason McCarthy maintained a Buy rating on IsoRay (NYSE MKT: ISR) today and set a price target of $2. The company’s shares opened today at $0.50, close to its 52-week low of $0.36.
McCarthy observed:
“IsoRay shares are up sharply (over 100%) following announcement that the company received FDA 510(k) regulatory clearance for GammaTile therapy, its brachytherapy technology that incorporates Cesium-131 seeds for the treatment of recurrent brain tumors (see below).”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 9.5% and a 43.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
IsoRay has an analyst consensus of Moderate Buy, with a price target consensus of $2.
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Based on IsoRay’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.33 million. In comparison, last year the company had a GAAP net loss of $1.85 million.
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IsoRay, Inc. is a medical technology company. Though its subsidiary IsoRay Medical, Inc., it develops, manufactures, and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases.
