B.Riley FBR Maintains Their Buy Rating on Viewray (VRAY)

B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Viewray (VRAYResearch Report) yesterday and set a price target of $12. The company’s shares closed yesterday at $6.97.

D’silva commented:

“ViewRay, Inc. (VRAY) reports 2Q19 results, and will host a conference call at 4:30 p.m. ET. (The dial-in/conference ID numbers are and 1695303, respectively.) We are comfortable with our/consensus’ top- and bottom-line estimates but note gross margins are a moving target and sales have the potential to be very lumpy: revenue recognized from one MRIdian Linac can dramatically change a quarter’s results; VRAY has stringent revenue- recognition protocols that typically require the customer to acknowledge the system operates/ meets product specifications. Thus, we believe it is best to evaluate VRAY on an annual basis and note our 2019 revenue estimate of $118.1M is near the midpoint of management’s $111M to $124M revenue guidance range.”

According to TipRanks.com, D’silva is a 3-star analyst with an average return of 2.7% and a 39.1% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc, EyePoint Pharmaceuticals Inc, and Sensus Healthcare Inc.

Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $14.33, representing a 105.6% upside. In a report issued on July 25, Northland Securities also assigned a Buy rating to the stock with a $20 price target.

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Based on Viewray’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $33.36 million. In comparison, last year the company had a GAAP net loss of $21.99 million.

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ViewRay, Inc. engages in the design, manufacture and market magnetic resonance imaging (MRI) system. It develops MRIdian to address the key limitations of existing external-beam radiation therapy technologies, and employs MRI-based technology to provide real-time imaging that clearly defines the targeted tumor from the surrounding soft tissue, and other critical organs, both before and during radiation treatment delivery. The company was founded by Dinara Akzhigitova on September 6, 2013 and is headquartered in Oakwood Village, OH.