IsoRay (NYSEAMERICAN:ISR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of IsoRay (NYSEAMERICAN:ISR) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “IsoRay, Inc. is a medical technology company that produces therapeutic radioactive isotopes. 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. The Company is engaged in the production and sales of Cesium-131 (Cs-131) brachytherapy seeds. Brachytherapy seeds are small devices containing a therapeutic dose of radiation used in an interstitial radiation procedure. The brachytherapy procedure places radioactive seeds as close as possible to (in or near) the cancerous tumor. The Cs-131 includes radioisotope in the treatment of all malignant tumors, such as prostate cancer, brain cancer, breast cancer, colorectal cancer, gynecological cancer, lung cancer, liver cancer, ocular melanoma and pancreatic cancer. The Company’s Proxcelan Cesium-131 seed is classified as a Class II device. The Company competes with Varian Medical Systems, Siemens Healthcare, Elekta AB and Accuray Incorporated. “

Other equities research analysts have also issued reports about the company. Dawson James initiated coverage on IsoRay in a research report on Monday, July 1st. They issued a buy rating on the stock. HC Wainwright lifted their price objective on Acceleron Pharma from $66.00 to $69.00 and gave the stock a buy rating in a research report on Monday, May 13th.

Shares of IsoRay stock opened at $0.41 on Tuesday. IsoRay has a one year low of $0.27 and a one year high of $0.67.

IsoRay (NYSEAMERICAN:ISR) last announced its quarterly earnings results on Thursday, May 9th. The healthcare company reported ($0.02) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.02). The company had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $1.92 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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