Piper Sandler Lowers ViewRay (NASDAQ:VRAY) Price Target to $7.00

ViewRay (NASDAQ:VRAY – Get Rating) had its target price dropped by research analysts at Piper Sandler from $9.00 to $7.00 in a research note issued on Friday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 180.00% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of ViewRay in a report on Tuesday, January 25th. They set a “buy” rating and a $7.00 target price for the company. StockNews.com assumed coverage on shares of ViewRay in a research note on Thursday, March 31st. They set a “sell” rating on the stock. B. Riley raised shares of ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Tuesday, January 11th. Finally, Zacks Investment Research cut shares of ViewRay from a “buy” rating to a “hold” rating in a research note on Thursday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.85.

Shares of VRAY opened at $2.50 on Friday. The company has a 50-day simple moving average of $3.63 and a 200-day simple moving average of $4.68. The company has a quick ratio of 3.33, a current ratio of 3.72 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $451.14 million, a PE ratio of -3.73 and a beta of 1.12. ViewRay has a 52-week low of $2.47 and a 52-week high of $8.25.

ViewRay (NASDAQ:VRAY – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $19.73 million. ViewRay had a negative net margin of 156.95% and a negative return on equity of 74.48%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. On average, research analysts anticipate that ViewRay will post -0.66 EPS for the current year.

In related news, Director Susan C. Schnabel bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were acquired at an average cost of $3.80 per share, with a total value of $38,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRAY. Artisan Partners Limited Partnership raised its holdings in ViewRay by 3.0% in the third quarter. Artisan Partners Limited Partnership now owns 24,327,709 shares of the company’s stock valued at $175,403,000 after buying an additional 698,074 shares during the period. BlackRock Inc. increased its stake in shares of ViewRay by 3.0% in the fourth quarter. BlackRock Inc. now owns 10,004,218 shares of the company’s stock worth $55,123,000 after buying an additional 287,145 shares during the last quarter. Millennium Management LLC boosted its holdings in ViewRay by 230.6% in the fourth quarter. Millennium Management LLC now owns 6,362,653 shares of the company’s stock worth $35,058,000 after purchasing an additional 4,438,283 shares during the period. Bamco Inc. NY boosted its holdings in ViewRay by 15.8% in the third quarter. Bamco Inc. NY now owns 4,400,929 shares of the company’s stock worth $31,731,000 after purchasing an additional 600,929 shares during the period. Finally, State Street Corp boosted its holdings in ViewRay by 1.9% in the fourth quarter. State Street Corp now owns 4,150,698 shares of the company’s stock worth $22,870,000 after purchasing an additional 79,214 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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