Viewray (NASDAQ:VRAY) Now Covered by Piper Jaffray Companies

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Stock analysts at Piper Jaffray Companies assumed coverage on shares of Viewray (NASDAQ:VRAY) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an “overweight” rating and a $15.00 price target on the stock. Piper Jaffray Companies’ price objective suggests a potential upside of 64.65% from the stock’s current price.

A number of other equities research analysts have also recently commented on VRAY. BidaskClub cut shares of Viewray from a “hold” rating to a “sell” rating in a research note on Monday, June 10th. Zacks Investment Research cut shares of Viewray from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 20th. TheStreet raised shares of Viewray from a “d+” rating to a “c-” rating in a research note on Thursday, March 21st. ValuEngine raised shares of Viewray from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 13th. Finally, B. Riley reissued a “buy” rating and issued a $12.00 price objective (down from $13.75) on shares of Viewray in a research note on Monday, March 11th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.84.

Shares of NASDAQ VRAY opened at $9.11 on Tuesday. The stock has a market capitalization of $885.15 million, a P/E ratio of -9.30 and a beta of 0.82. Viewray has a 52 week low of $4.86 and a 52 week high of $13.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.21 and a current ratio of 4.28.

Viewray (NASDAQ:VRAY) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). The business had revenue of $20.30 million during the quarter, compared to analyst estimates of $20.40 million. Viewray had a negative net margin of 139.82% and a negative return on equity of 71.16%. Viewray’s revenue was down 22.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. As a group, equities research analysts expect that Viewray will post -1.02 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its holdings in Viewray by 3.9% in the 4th quarter. American International Group Inc. now owns 41,576 shares of the company’s stock valued at $252,000 after purchasing an additional 1,573 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Viewray by 4.3% in the 1st quarter. TD Asset Management Inc. now owns 60,167 shares of the company’s stock valued at $445,000 after purchasing an additional 2,500 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in Viewray by 90.6% in the 4th quarter. NumerixS Investment Technologies Inc now owns 6,100 shares of the company’s stock valued at $34,000 after purchasing an additional 2,900 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Viewray by 4.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 74,440 shares of the company’s stock valued at $550,000 after purchasing an additional 3,090 shares in the last quarter. Finally, Pennsylvania Trust Co lifted its holdings in Viewray by 2.5% in the 1st quarter. Pennsylvania Trust Co now owns 129,441 shares of the company’s stock valued at $957,000 after purchasing an additional 3,100 shares in the last quarter.

About Viewray

ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.

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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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