Viewray (VRAY) Gets a Buy Rating from Northland Securities

Northland Securities analyst Suraj Kalia maintained a Buy rating on Viewray (VRAYResearch Report) today and set a price target of $20. The company’s shares opened today at $7.91.

Kalia said:

“We however, keep an eye on the science and the clinical data to validate the science. Hence, our rating / PT.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 12.9% and a 60.3% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $14 average price target, implying a 77.0% upside from current levels. In a report issued on March 11, B.Riley FBR also maintained a Buy rating on the stock with a $13.75 price target.

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Based on Viewray’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $32.85 million. In comparison, last year the company had a GAAP net loss of $24.65 million.

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ViewRay, Inc. engages in the research, development, and manufacture of magnetic resonance imaging (MRI) system. Its product includes MRIdian, which supports image-guided radiation therapy, stereotactic radiation therapy, and radiosurgery. The company was founded by Dinara Akzhigitova on September 6, 2013 and is headquartered in Oakwood Village, OH.

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