In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Viewray (NASDAQ: VRAY), with a price target of $13. The company’s shares closed yesterday at $9.66.
Yang noted:
“We see this round of financing as a positive for ViewRay as it removes financing overhang and the company is positioned to reach break-even with currently available capital, which we anticipate sometime in 2021. The focus now turns to operational execution and we expect to see noticeable progress over the coming 2-3 quarters.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 21.9% and a 53.4% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $14.40, which is a 49.1% upside from current levels. In a report issued on August 3, Northland Securities also maintained a Buy rating on the stock with a $20 price target.
.
See today’s analyst top recommended stocks >>
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 $8.35 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
