IsoRay (ISR) Lowered to “Hold” at Maxim Group

Maxim Group lowered shares of IsoRay (NYSEAMERICAN:ISR) from a buy rating to a hold rating in a research note published on Friday morning, Marketbeat Ratings reports.

“IsoRay reported the September quarter (FYE: June) with Cs-131 revenue of $1.56M, down 2.5% sequentially, and flat with the Dec and Mar quarters. The company ended the period with $9.2M in cash, including net proceeds of $8.25M from a July equity financing. Our fundamental view of Cs-131 is as a superior isotope for radio-therapy remains intact though IsoRay continues to struggle to drive revenue growth. It’s still early stage for Blu-Build and the question is can GammaTile be the answer? At this point it’s too early to tell and we see only incremental revenue growth. As such, we opt to step down to a Hold rating, from Buy, remove our price target.”,” Maxim Group’s analyst commented.

Other equities research analysts also recently issued reports about the stock. HC Wainwright set a $1.00 price target on shares of IsoRay and gave the company a hold rating in a research note on Wednesday, September 26th. Zacks Investment Research upgraded shares of IsoRay from a sell rating to a hold rating in a research note on Friday.

IsoRay stock traded down $0.05 during trading hours on Friday, reaching $0.39. 826,896 shares of the stock were exchanged, compared to its average volume of 629,799. IsoRay has a twelve month low of $0.36 and a twelve month high of $1.22.

IsoRay (NYSEAMERICAN:ISR) last posted its quarterly earnings results on Thursday, November 8th. The healthcare company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $1.56 million during the quarter, compared to analyst estimates of $1.73 million.

About IsoRay

IsoRay, Inc, through its subsidiary, IsoRay Medical, Inc, develops, manufactures, and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the United States. The company produces CS-1 Cesium-131 brachytherapy seeds for the treatment of prostate, brain, lung, head and neck, gynecological, pelvic/abdominal, and colorectal cancers, as well as ocular melanoma.

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