After B.Riley FBR and Mizuho Securities gave Viewray (NASDAQ: VRAY) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Craig Bijou reiterated a Buy rating on Viewray today and set a price target of $13. The company’s shares opened today at $11.05.
Bijou commented:
“: We reiterate our Overweight rating and $13 PT on shares of VRAY. VRAY reported full 2Q results before the market open. Revenue of $16MM was in line with its pre-announcement (7/24), beating consensus estimates by $4MM. VRAY installed three MRI and saw a sequential improvement in gross orders. VRAY reiterated its 2018 revenue guidance of $80-90MM. The new CEO Scott Drake and COO Shar Matin appear to have several ideas to implement that should quickly benefit the company. Given the strong experience, we believe that new management can help drive VRAY as it enters its next stage.”
According to TipRanks.com, Bijou is a 5-star analyst with an average return of 26.5% and a 82.5% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $13.42 average price target, a 21.5% upside from current levels. In a report issued on July 20, B.Riley FBR also reiterated a Buy rating on the stock with a $13.50 price target.
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The company has a one-year high of $13.21 and a one-year low of $5.01. Currently, Viewray has an average volume of 1.09M.
Based on the recent corporate insider activity of 21 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.
