Mizuho restated their buy rating on shares of ViewRay, Inc. (NASDAQ:VRAY) in a report published on Wednesday, October 25th. They currently have a $12.00 price objective on the stock.
“We view this as a positive. With a financing overhang now gone, the focus turns to execution in 2H17. Specifically, we will be looking for management to deliver on the full-year guidance of $45-50 million in revenue, i.e., 7-8 system installations. KeyPoints Capital Raise. ViewRay raised aggregate gross proceeds of approximately $50 million through the issuance and sale of 8,382,643 shares of its common stock. The purchase price was $5.95, approx. equal to the trailing 30-day average price at the time of negotiation.”,” the firm’s analyst commented.
A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of ViewRay from a hold rating to a sell rating in a report on Friday, September 22nd. Aegis restated a buy rating and issued a $11.00 price objective on shares of ViewRay in a report on Saturday, July 22nd. Finally, Cantor Fitzgerald assumed coverage on shares of ViewRay in a report on Thursday, June 29th. They issued an overweight rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $10.00.
Shares of ViewRay (VRAY) opened at $8.51 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.45 and a debt-to-equity ratio of -2.62. ViewRay has a 1-year low of $2.67 and a 1-year high of $10.39.
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Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new stake in ViewRay during the 1st quarter valued at $484,000. Russell Investments Group Ltd. bought a new stake in ViewRay during the 2nd quarter valued at $1,361,000. Geode Capital Management LLC raised its holdings in ViewRay by 158.7% during the 1st quarter. Geode Capital Management LLC now owns 149,463 shares of the company’s stock valued at $1,271,000 after buying an additional 91,694 shares during the last quarter. HighTower Advisors LLC bought a new stake in ViewRay during the 1st quarter valued at $170,000. Finally, Citadel Advisors LLC bought a new stake in ViewRay during the 1st quarter valued at $268,000. Institutional investors own 53.64% of the company’s stock.
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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