After B.Riley FBR and BTIG gave Viewray (NASDAQ: VRAY) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Difei Yang maintained a Buy rating on Viewray today and set a price target of $12. The company’s shares closed yesterday at $7.33.
Yang observed:
“We hosted an expert call on a professor of radiation physics at MD Anderson. Our main takeaways include: 1) MR-guided radiation represents a major technological improvement with potential to become standard of care, 2) while both MRIdian and Unity have differences (magnetic field strength, imaging capabilities, software, installation process, etc.; we go through differences in more detail below), our expert noted that MR-Linac appears to provide substantial clinical benefits to patients (as evidenced by data from MRIdian in pancreatic cancer where an almost doubling of survival was achieved). Our expert believes adoption should be rapid as physicians recognize the benefits of this new technology and providers improve system capabilities.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 17.2% and a 48.5% 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 $13.33.
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Based on Viewray’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.74 million. In comparison, last year the company had a GAAP net loss of $4.81 million.
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ViewRay, Inc. engages in the design, manufacture and market magnetic resonance imaging (MRI) system. It develops MRIdian to address the key limitations of existing external-beam radiation therapy technologies, and employs MRI-based technology to provide real-time imaging that clearly defines the targeted tumor from the surrounding soft tissue, and other critical organs, both before and during radiation treatment delivery. The company was founded by Dinara Akzhigitova on September 6, 2013 and is headquartered in Oakwood Village, OH.
