Mizuho Securities Thinks Viewray’s Stock is Going to Recover


Mizuho Securities analyst Difei Yang maintained a Buy rating on Viewray (VRAY) today and set a price target of $12. The company’s shares closed on Friday at $6.15, close to its 52-week low of $4.86.

Yang wrote:

“We believe ViewRay could save ~$1mn per quarter in cash payment of interest expense up to Dec 2020. The company has paid off the ~$57.8mn owed under the 2015 CRG the proceeds from this $56mn and cash on hand. Per loan agreement, ViewRay has to maintain a few requirements on cash balance, liquidity ratio and revenue, please see the details in page 2.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 13.2% and a 42.0% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.

Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $13.11, an 113.2% upside from current levels. In a report issued on January 2, 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 September 30, the company reported a quarterly GAAP net loss of $32.85 million. In comparison, last year the company had a GAAP net loss of $24.65 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRAY in relation to earlier this year.

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.

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