Isoray (NYSEAMERICAN:ISR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $1.00 price target on the healthcare company’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.09% from the stock’s current price.
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 recently issued research reports about the company. Lake Street Capital assumed coverage on Isoray in a report on Thursday, February 18th. They set a “buy” rating and a $3.00 price objective on the stock. HC Wainwright raised their price objective on Isoray from $1.25 to $2.10 and gave the stock a “buy” rating in a report on Wednesday, February 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $1.77.
Isoray (NYSEAMERICAN:ISR) last announced its earnings results on Tuesday, February 9th. The healthcare company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Isoray had a negative return on equity of 58.76% and a negative net margin of 34.32%. The firm had revenue of $2.36 million for the quarter, compared to analysts’ expectations of $2.36 million. As a group, equities analysts anticipate that Isoray will post -0.04 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Perkins Capital Management Inc. raised its position in shares of Isoray by 179.8% in the 1st quarter. Perkins Capital Management Inc. now owns 1,399,000 shares of the healthcare company’s stock worth $1,525,000 after buying an additional 899,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Isoray by 164.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,348,532 shares of the healthcare company’s stock worth $607,000 after buying an additional 837,832 shares during the period. Highland Private Wealth Management raised its position in Isoray by 38.7% in the first quarter. Highland Private Wealth Management now owns 847,038 shares of the healthcare company’s stock valued at $923,000 after purchasing an additional 236,538 shares during the period. Virtu Financial LLC raised its position in Isoray by 182.0% in the fourth quarter. Virtu Financial LLC now owns 225,594 shares of the healthcare company’s stock valued at $102,000 after purchasing an additional 145,589 shares during the period. Finally, Squarepoint Ops LLC raised its position in Isoray by 79.5% in the fourth quarter. Squarepoint Ops LLC now owns 120,143 shares of the healthcare company’s stock valued at $54,000 after purchasing an additional 53,205 shares during the period. 7.67% of the stock is currently owned by institutional investors and hedge funds.
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 and internationally. 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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