Viewray (VRAY) Received its Third Buy in a Row


After Cantor Fitzgerald and Mizuho Securities gave Viewray (NASDAQ: VRAY) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Suraj Kalia maintained a Buy rating on Viewray today and set a price target of $20. The company’s shares opened today at $7.23.

Kalia said:

“We however, keep an eye on the science and the clinical data to validate the science. Hence, our rating / PT.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 9.7% and a 55.6% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Strata Skin Sciences Inc, and Obalon Therapeutics Inc.

Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $13.11, an 81.3% upside from current levels. In a report issued on January 7, 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 $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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