After Mizuho Securities and Jefferies gave Viewray (NASDAQ: VRAY) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Suraj Kalia maintained a Buy rating on Viewray today and set a price target of $20. The company’s shares opened today at $9.11.
“We did talk to Elekta this morning, and were informed that Elekta did offer GenesisCare a bulk purchase discount (of almost 35%).”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 11.1% and a 60.1% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Strata Skin Sciences Inc.
Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $13.71, representing a 50.5% upside. In a report issued on July 15, Mizuho Securities also maintained a Buy rating on the stock with a $12 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.