Northland Securities reissued their buy rating on shares of Viewray (NASDAQ:VRAY) in a research report released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $5.00 price objective on the stock.
“We remain confident in our analysis of the clinical benefits of MRgRT, and this study is another data point towards long-term validation.”,” the firm’s analyst commented.
Other research analysts have also recently issued research reports about the stock. Piper Jaffray Companies assumed coverage on shares of Viewray in a research report on Tuesday, June 18th. They issued an overweight rating and a $15.00 target price for the company. Zacks Investment Research upgraded shares of Viewray from a sell rating to a hold rating in a research report on Friday, August 16th. Cantor Fitzgerald set a $13.00 target price on shares of Viewray and gave the stock a buy rating in a research report on Tuesday, May 28th. BidaskClub upgraded shares of Viewray from a strong sell rating to a sell rating in a research report on Thursday, August 15th. Finally, Morgan Stanley set a $5.00 target price on shares of Viewray and gave the stock a hold rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $10.25.
NASDAQ VRAY opened at $4.26 on Monday. Viewray has a 52 week low of $2.76 and a 52 week high of $10.73. The company has a current ratio of 4.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.55. The stock has a market cap of $424.45 million, a price-to-earnings ratio of -4.35 and a beta of 0.79. The company has a 50-day moving average price of $7.47 and a two-hundred day moving average price of $7.95.
Viewray (NASDAQ:VRAY) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. The firm had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. During the same quarter last year, the company posted ($0.30) EPS. Viewray’s revenue for the quarter was up 83.5% on a year-over-year basis. As a group, equities research analysts expect that Viewray will post -1.18 earnings per share for the current fiscal year.
In related news, CEO Scott William Drake purchased 131,260 shares of Viewray stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $3.81 per share, with a total value of $500,100.60. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James F. Dempsey sold 21,615 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $8.97, for a total transaction of $193,886.55. The disclosure for this sale can be found here. Corporate insiders own 15.48% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in Viewray by 4,390.1% during the second quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock valued at $52,000 after purchasing an additional 5,751 shares during the last quarter. Cutler Group LP acquired a new stake in Viewray during the first quarter valued at approximately $76,000. BNP Paribas Arbitrage SA lifted its stake in Viewray by 57,004.3% during the first quarter. BNP Paribas Arbitrage SA now owns 13,134 shares of the company’s stock valued at $97,000 after purchasing an additional 13,111 shares during the last quarter. Bray Capital Advisors acquired a new stake in Viewray during the first quarter valued at approximately $104,000. Finally, Stephens Inc. AR acquired a new stake in Viewray during the first quarter valued at approximately $117,000.
Viewray Company Profile
ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.
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