In a report released today, Suraj Kalia from Northland Securities maintained a Buy rating on Viewray (VRAY), with a price target of $20. The company’s shares opened today at $6.30, close to its 52-week low of $5.80.
Kalia wrote:
“We now expect Elekta to begin a full commercial launch beginning Q1-19 (calendar).”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 9.6% and a 54.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $14.13 average price target, which is a 124.3% upside from current levels. In a report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $13 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 $11.22 million.
Based on the recent corporate insider activity of 37 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.
