Viewray (NASDAQ:VRAY) Receives Buy Rating from Guggenheim

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Viewray (NASDAQ:VRAY)‘s stock had its “buy” rating restated by Guggenheim in a research note issued to investors on Tuesday, TipRanks reports. They presently have a $8.00 target price on the stock. Guggenheim’s target price indicates a potential upside of 80.18% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Mizuho restated a “buy” rating and issued a $9.00 price target on shares of Viewray in a research report on Tuesday. Oppenheimer began coverage on Viewray in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $7.00 price objective on the stock. Northland Securities reiterated a “buy” rating and set a $5.00 price objective on shares of Viewray in a research report on Monday, August 19th. Morgan Stanley set a $5.00 price objective on Viewray and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Piper Jaffray Companies set a $6.00 target price on Viewray and gave the company a “buy” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Viewray presently has a consensus rating of “Buy” and an average price target of $6.10.

VRAY opened at $4.44 on Tuesday. The firm has a market capitalization of $330.03 million, a PE ratio of -4.53 and a beta of 1.09. Viewray has a twelve month low of $2.12 and a twelve month high of $9.76. The firm’s 50-day moving average price is $2.83 and its 200 day moving average price is $5.55. The company has a current ratio of 3.70, a quick ratio of 2.58 and a debt-to-equity ratio of 0.62.

Viewray (NASDAQ:VRAY) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.06. Viewray had a negative net margin of 110.61% and a negative return on equity of 75.41%. The company had revenue of $20.90 million during the quarter, compared to the consensus estimate of $20.66 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. Viewray’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, analysts predict that Viewray will post -1.13 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in Viewray during the second quarter worth $348,000. Asymmetry Capital Management L.P. boosted its position in shares of Viewray by 431.0% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 443,973 shares of the company’s stock worth $3,911,000 after purchasing an additional 360,362 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Viewray by 224.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,009 shares of the company’s stock worth $361,000 after purchasing an additional 28,380 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Viewray by 135.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 209,409 shares of the company’s stock worth $1,808,000 after purchasing an additional 120,311 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in Viewray in the 3rd quarter valued at approximately $125,000.

About Viewray

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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