Viewray Receives a Buy from Northland Securities

By Ryan Adsit

Northland Securities analyst Suraj Kalia reiterated a Buy rating on Viewray (NASDAQ: VRAY) today and set a price target of $7. The company’s shares opened today at $6.93.

Kalia wrote:

“We are maintaining our FY17 & FY18 numbers, and our PT & ratings remain the same. Key Points Perhaps the most interesting takeaway from the call was the announcement of a multi-institutional trial on unresectable pancreatic cancer using MRIdian. It is our understanding that this trial will include both MRIdian Cobalt & LINAC (as they become available); will include a hard endpoint like survival, and “possibly” intraop dose titration and impact on outcomes. As a reminder, most patients with pancreatic cancer will die within 1 – 2 years, with median survival @ 1-year. Hence, it is certainly possible that ViewRay could provide survival endpoints for such a trial in late 2018 / early 2019. This obviously is predicated on the trial design, sample size, inclusion criteria, and whether this will be randomized or not. The ideal design would obviously be to include a comparative arm with another RT machine (like the TruBeam) & compare to MRIdian. Finally, how outcomes will be influenced with the use of Cobalt vs. LINAC will also be interesting to note, although it might be hard to draw any statistical conclusions given small sample size.”

According to TipRanks.com, Kalia is a 3-star analyst with an average return of 4.3% and a 50.6% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Xtant Medical Holdings, Edwards Lifesciences, and Intuitive Surgical.

Currently, the analyst consensus on Viewray is Moderate Buy and the average price target is $9, representing a 29.9% upside.

In a report released today, Aegis Capital also reiterated a Buy rating on the stock with a $11 price target.

The company has a one year high of $10.39 and a one year low of $2.64. Currently, Viewray has an average volume of 1.05M.

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.