Jefferies Keeps a Buy Rating on Accuray Inc

By Ryan Adsit

Jefferies analyst Raj Denhoy reiterated a Buy rating on Accuray Inc (NASDAQ: ARAY) yesterday and set a price target of $7. The company’s shares closed yesterday at $4.70.

According to TipRanks.com, Denhoy is a top 100 analyst with an average return of 17.7% and a 76.1% success rate. Denhoy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Varian Medical Systems, and Zimmer Biomet Holdings.

Accuray Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.67.

The company has a one year high of $6.39 and a one year low of $3.85. Currently, Accuray Inc has an average volume of 767.1K.

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Accuray, Inc. is the premier radiation oncology company which develops, manufactures and sells personalized treatment solutions such as the cyberKnife and tomotherapy systems, which are designed to deliver radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image-guided radiation therapy and adaptive radiation therapy. The cyberKnife system is designed to combine continual image guidance technology with a compact linear accelerator, or linac, which has the ability to move in three dimensions according to the treatment plan. The tomotherapy system operates on a ring gantry and combines integrated computed tomography, or CT, imaging with intensity modulated radiation therapy, which is designed to deliver radiation treatments with speed and precision while reducing radiation exposure to surrounding healthy tissue. Accuray was founded by John R. Adler in 1990 and is headquartered in Sunnyvale, CA.