After BTIG 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. The company’s shares closed yesterday at $8.75.
“We also adjusted our 2019 revenue and new order forecast downward. We believe management is making the right investments and we expect the efforts to pay-off over time with 2-3 quarters of lag (more below). We updated our model and reduce our PT from $13 to $12. Reiterate Buy.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.7% and a 48.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
Viewray has an analyst consensus of Strong Buy, with a price target consensus of $15.06, a 72.1% upside from current levels. In a report issued on October 29, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $13 price target.
The company has a one-year high of $13.21 and a one-year low of $6.05. Currently, Viewray has an average volume of 1.51M.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.
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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.