Analysts Set Viewray Inc (NASDAQ:VRAY) Price Target at $6.50

Viewray Inc (NASDAQ:VRAY) has been assigned an average rating of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.50.

Several research analysts recently commented on the stock. ValuEngine upgraded shares of Viewray from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Viewray in a report on Wednesday, November 13th. B. Riley restated a “neutral” rating and set a $5.00 target price (down previously from $9.00) on shares of Viewray in a report on Wednesday, December 4th. BidaskClub cut shares of Viewray from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Guggenheim restated a “buy” rating and set a $8.00 target price on shares of Viewray in a report on Tuesday, December 3rd.

Hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC bought a new position in shares of Viewray in the second quarter valued at about $348,000. Gilder Gagnon Howe & Co. LLC grew its stake in Viewray by 2.7% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 433,449 shares of the company’s stock worth $1,257,000 after buying an additional 11,388 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Viewray by 224.7% during the second quarter. Envestnet Asset Management Inc. now owns 41,009 shares of the company’s stock worth $361,000 after buying an additional 28,380 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Viewray in the 3rd quarter valued at approximately $121,000. Finally, Parallel Advisors LLC acquired a new stake in shares of Viewray in the 3rd quarter valued at approximately $125,000.

Shares of VRAY opened at $2.89 on Friday. Viewray has a 12 month low of $2.12 and a 12 month high of $9.76. The firm has a fifty day simple moving average of $4.01 and a 200 day simple moving average of $4.63. The stock has a market capitalization of $372.77 million, a price-to-earnings ratio of -2.95 and a beta of 1.17. 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 announced its earnings results on Tuesday, November 12th. The company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $20.90 million during the quarter, compared to analysts’ expectations of $20.66 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, research analysts predict that Viewray will post -1.11 earnings per share for the current fiscal year.

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.

Featured Story: S&P 500 Index

Analyst Recommendations for Viewray (NASDAQ:VRAY)

Receive News & Ratings for Viewray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viewray and related companies with MarketBeat.com's FREE daily email newsletter.