Aegis Capital Reaffirms Their Buy Rating on Viewray

By Ryan Adsit

Aegis Capital analyst Difei Yang reiterated a Buy rating on Viewray (NASDAQ: VRAY) today and set a price target of $11. The company’s shares closed yesterday at $7.

Yang wrote:

“We are assuming coverage of VRAY with a Buy rating and $11 PT. We believe the MRI-guided LINAC is a game-changer in radiation oncology, with real-time imaging improving dosimetry and reducing the toxicity to patients. The combination improves functionality and expands the use of stereotactic body radiation therapy (SBRT), and physicians believe the system can expand the total treatable tumors by at least 20%.”

According to TipRanks.com, Yang is a 4-star analyst with an average return of 6.4% and a 44.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Protalix Biotherapeutics, and Spectrum Pharmaceuticals.

Viewray has an analyst consensus of Moderate Buy, with a price target consensus of $9.

Based on Viewray’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.23 million and GAAP net loss of $27.96 million. In comparison, last year the company earned revenue of $5.46 million and had a GAAP net loss of $13.37 million.

Based on the recent corporate insider activity of 30 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.