Oppenheimer Keeps Their Buy Rating on Viewray (VRAY)


Oppenheimer analyst Suraj Kalia maintained a Buy rating on Viewray (VRAY) yesterday and set a price target of $4.00. The company’s shares closed last Thursday at $3.08.

According to TipRanks.com, Kalia is a 3-star analyst with an average return of 2.5% and a 51.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Inspire Medical Systems, and Cardiovascular Systems.

Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $3.88, implying a 28.1% upside from current levels. In a report issued on October 28, B.Riley Financial also upgraded the stock to Buy with a $4.00 price target.

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Based on Viewray’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $14.22 million and GAAP net loss of $26.15 million. In comparison, last year the company earned revenue of $30.17 million and had a GAAP net loss of $30.8 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.

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