Viewray (VRAY) Received its Third Buy in a Row

After B.Riley FBR and Cantor Fitzgerald 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 $13. The company’s shares closed yesterday at $8.56.

Yang wrote:

“We conducted a survey to radiation oncology centers to assess potential market demand for the coming 12-24 months. Following successful adoption by larger research/academic institutions, we believe the next leg of growth for ViewRay is likely to come from smaller/community type hospitals in the U.S. Our survey confirms our views. We project a total of 91 new orders for MRIdian in the next 12-24 months, mostly driven by centers with 2 to 5 Linac units in the U.S., which represents upside to our current estimate of 71 new orders in 2019 and 2020 combined.”

According to, Yang is a 5-star analyst with an average return of 21.9% and a 51.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.

Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $14.85, representing a 73.5% upside. In a report issued on October 2, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $13 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 $11.22 million.

Based on the recent corporate insider activity of 36 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts