BTIG Research assumed coverage on shares of ViewRay Inc. (NASDAQ:VRAY) in a research report report published on Wednesday. The firm issued a buy rating and a $6.00 price target on the stock.

“While we admit the higher price per system may impact how many hospitals will ultimately adopt, we feel the early adopters who are less price sensitive will drive strong initial orders and the stock over the next few years.”If properly marketed, patients will learn about live imaging and, we believe, seek out centers with its availability. We are not calling for ISRG like success this early but could envision a similar hospital arms race,,” BTIG Research’s analyst wrote.

Shares of ViewRay (NASDAQ:VRAY) opened at 4.56 on Wednesday. The company’s market cap is $175.09 million. ViewRay has a 12 month low of $2.69 and a 12 month high of $8.00. The company’s 50 day moving average price is $3.45 and its 200 day moving average price is $4.19.

ViewRay (NASDAQ:VRAY) last released its quarterly earnings results on Monday, August 15th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.03. On average, equities analysts expect that ViewRay will post ($1.20) EPS for the current fiscal year.

In other ViewRay news, Director David P. Bonita bought 1,138,074 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average cost of $2.95 per share, with a total value of $3,357,318.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aditya Puri bought 1,472,803 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $2.95 per share, for a total transaction of $4,344,768.85. Following the completion of the purchase, the director now directly owns 18,964 shares of the company’s stock, valued at $55,943.80. The disclosure for this purchase can be found here. 59.10% of the stock is owned by insiders.

ViewRay Company Profile

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.

5 Day Chart for NASDAQ:VRAY

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