Northland Securities Reiterates Buy Rating for Viewray (NASDAQ:VRAY)

Northland Securities restated their buy rating on shares of Viewray (NASDAQ:VRAY) in a report issued on Monday, AnalystRatings.com reports. The firm currently has a $5.00 price target 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 wrote.

VRAY has been the topic of several other research reports. TheStreet lowered shares of Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. Cantor Fitzgerald set a $13.00 target price on shares of Viewray and gave the company a buy rating in a research note on Tuesday, May 28th. Jefferies Financial Group lowered their target price on shares of Viewray from $14.00 to $7.00 and set a buy rating on the stock in a research note on Friday, August 9th. Zacks Investment Research upgraded shares of Viewray from a sell rating to a hold rating in a research note on Friday, August 16th. Finally, Morgan Stanley set a $5.00 target price on shares of Viewray and gave the company a hold rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Viewray currently has an average rating of Buy and an average target price of $10.25.

Shares of VRAY opened at $4.26 on Monday. The company’s fifty day moving average is $7.47 and its 200-day moving average is $7.95. Viewray has a 12 month low of $2.76 and a 12 month high of $10.73. The firm 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 quick ratio of 3.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.55.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $30.17 million for the quarter, compared to analyst estimates of $25.92 million. During the same quarter last year, the company earned ($0.30) EPS. The business’s revenue for the quarter was up 83.5% compared to the same quarter last year. As a group, research analysts predict that Viewray will post -1.18 earnings per share for the current fiscal year.

In related news, COO Shahriar Matin purchased 60,000 shares of Viewray stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $4.02 per share, with a total value of $241,200.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James F. Dempsey sold 21,615 shares of the stock in a transaction on Thursday, August 1st. The shares were 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. Company insiders own 15.48% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Marshall Wace LLP boosted its holdings in Viewray by 47.1% in the 1st quarter. Marshall Wace LLP now owns 131,179 shares of the company’s stock valued at $970,000 after purchasing an additional 42,015 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in Viewray by 1,204.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 132,857 shares of the company’s stock valued at $982,000 after purchasing an additional 122,675 shares during the period. Penn Capital Management Co. Inc. boosted its holdings in Viewray by 6.0% in the 1st quarter. Penn Capital Management Co. Inc. now owns 554,892 shares of the company’s stock valued at $4,101,000 after purchasing an additional 31,327 shares during the period. LVZ Advisors Inc. bought a new stake in Viewray in the 1st quarter valued at $246,000. Finally, Assenagon Asset Management S.A. bought a new stake in Viewray in the 1st quarter valued at $3,386,000.

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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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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