BTIG analyst Sean Lavin maintained a Buy rating on Viewray (VRAY – Research Report) on August 8 and set a price target of $6. The company’s shares closed on Friday at $3.10, close to its 52-week low of $2.76.
According to TipRanks.com, Lavin is a 4-star analyst with an average return of 3.2% and a 53.9% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $9.33, implying a 201.0% upside from current levels. In a report issued on July 25, Northland Securities also assigned a Buy rating to the stock with a $20 price target.
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.