Maxim Group downgraded shares of IsoRay (NYSEAMERICAN:ISR) from a buy rating to a hold rating in a report issued on Friday morning, MarketBeat 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 wrote.
Several other brokerages also recently commented on ISR. HC Wainwright set a $1.00 price objective on shares of IsoRay and gave the stock a hold rating in a research report on Wednesday, September 26th. Zacks Investment Research raised shares of IsoRay from a sell rating to a hold rating in a research report on Friday.
IsoRay (NYSEAMERICAN:ISR) last released its quarterly earnings results on Thursday, November 8th. The healthcare company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $1.56 million for the quarter, compared to the consensus estimate of $1.73 million.
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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