Viewray (NASDAQ:VRAY) Now Covered by Oppenheimer

Stock analysts at Oppenheimer started coverage on shares of Viewray (NASDAQ:VRAY) in a report issued on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $7.00 price target on the stock. Oppenheimer’s price target points to a potential upside of 182.26% from the stock’s current price.

A number of other research firms have also weighed in on VRAY. Northland Securities reaffirmed a “buy” rating and set a $5.00 price target on shares of Viewray in a report on Monday, August 19th. Mizuho set a $9.00 price target on shares of Viewray and gave the company a “buy” rating in a report on Monday, September 30th. Cantor Fitzgerald set a $6.00 price target on shares of Viewray and gave the company a “buy” rating in a report on Friday, September 13th. ValuEngine raised shares of Viewray from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Finally, Zacks Investment Research raised shares of Viewray from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Saturday, October 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Viewray presently has an average rating of “Buy” and an average price target of $7.30.

VRAY traded down $0.13 during trading hours on Tuesday, reaching $2.48. 55,066 shares of the stock traded hands, compared to its average volume of 2,138,033. The firm’s fifty day simple moving average is $3.09 and its two-hundred day simple moving average is $6.49. The company has a market cap of $251.12 million, a price-to-earnings ratio of -2.55 and a beta of 1.02. Viewray has a fifty-two week low of $2.12 and a fifty-two week high of $9.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.01 and a quick ratio of 3.01.

Viewray (NASDAQ:VRAY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.09). The firm had revenue of $30.17 million for the quarter, compared to analyst estimates of $25.92 million. Viewray had a negative net margin of 128.13% and a negative return on equity of 67.02%. Viewray’s revenue for the quarter was up 83.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) earnings per share. On average, research analysts predict that Viewray will post -1.17 earnings per share for the current year.

In related news, CEO Scott William Drake acquired 131,260 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $3.81 per share, with a total value of $500,100.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Shahriar Matin acquired 60,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $4.02 per share, with a total value of $241,200.00. The disclosure for this purchase can be found here. 15.48% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Park West Asset Management LLC lifted its position in shares of Viewray by 87.3% in the 2nd quarter. Park West Asset Management LLC now owns 7,615,325 shares of the company’s stock worth $67,091,000 after buying an additional 3,549,255 shares during the last quarter. Perceptive Advisors LLC lifted its position in shares of Viewray by 13.5% in the 2nd quarter. Perceptive Advisors LLC now owns 5,455,243 shares of the company’s stock worth $48,061,000 after buying an additional 649,593 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Viewray by 204.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 713,178 shares of the company’s stock worth $6,283,000 after buying an additional 478,819 shares during the last quarter. Granite Investment Partners LLC lifted its position in shares of Viewray by 35.0% in the 2nd quarter. Granite Investment Partners LLC now owns 1,428,821 shares of the company’s stock worth $12,588,000 after buying an additional 370,667 shares during the last quarter. Finally, Asymmetry Capital Management L.P. lifted its position in shares of Viewray by 431.0% in the 2nd quarter. Asymmetry Capital Management L.P. now owns 443,973 shares of the company’s stock worth $3,911,000 after buying an additional 360,362 shares during 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.

Further Reading: Death Cross

Analyst Recommendations for Viewray (NASDAQ:VRAY)

Receive News & Ratings for Viewray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viewray and related companies with MarketBeat.com's FREE daily email newsletter.