ViewRay (NASDAQ:VRAY – Get Rating) had its target price lowered by analysts at BTIG Research from $9.00 to $8.00 in a research report issued to clients and investors on Friday, The Fly reports. BTIG Research’s price target indicates a potential upside of 184.70% from the stock’s current price.
Several other brokerages also recently commented on VRAY. StockNews.com started coverage on ViewRay in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Piper Sandler cut their price objective on ViewRay from $9.00 to $7.00 in a research report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.25.
NASDAQ:VRAY opened at $2.81 on Friday. The stock’s fifty day moving average is $2.90 and its 200 day moving average is $3.91. ViewRay has a fifty-two week low of $2.39 and a fifty-two week high of $8.25. The firm has a market capitalization of $507.09 million, a PE ratio of -4.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.84 and a current ratio of 3.17.
ViewRay (NASDAQ:VRAY – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. ViewRay had a negative return on equity of 76.00% and a negative net margin of 148.47%. The company had revenue of $18.88 million for the quarter, compared to analyst estimates of $15.62 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. ViewRay’s quarterly revenue was up 21.6% compared to the same quarter last year. Equities analysts forecast that ViewRay will post -0.6 EPS for the current year.
In other news, Director Brian K. Roberts purchased 16,000 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were acquired at an average price of $2.98 per share, with a total value of $47,680.00. Following the transaction, the director now owns 147,761 shares of the company’s stock, valued at $440,327.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Zachary William Stassen purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average cost of $2.68 per share, for a total transaction of $268,000.00. Following the transaction, the chief financial officer now directly owns 636,363 shares in the company, valued at approximately $1,705,452.84. The disclosure for this purchase can be found here. Insiders have bought a total of 1,231,000 shares of company stock worth $3,149,280 in the last three months. Corporate insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. OLD Mission Capital LLC purchased a new stake in shares of ViewRay during the 4th quarter worth $209,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of ViewRay during the 4th quarter worth $2,646,000. Dimensional Fund Advisors LP lifted its stake in shares of ViewRay by 23.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,688,463 shares of the company’s stock worth $12,173,000 after purchasing an additional 322,318 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of ViewRay by 65.3% during the 4th quarter. Walleye Capital LLC now owns 86,252 shares of the company’s stock worth $475,000 after purchasing an additional 34,061 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of ViewRay by 91.6% during the 4th quarter. Point72 Asset Management L.P. now owns 2,718,379 shares of the company’s stock worth $14,978,000 after purchasing an additional 1,299,811 shares during the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.
ViewRay Company Profile (Get Rating)
ViewRay, Inc designs, manufactures, and markets magnetic resonance imaging (MRI) guided radiation therapy systems to image and treat cancer patients in the United States, France, Taiwan, the United Kingdom, and internationally. The company provides MRIdian, which is an MRI guided radiation therapy system that addresses beam distortion, skin toxicity, and other concerns.