BTIG Research began coverage on shares of ViewRay Inc. (NASDAQ:VRAY) in a research report report published on Wednesday. The brokerage 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 has a 50 day moving average price of $3.45 and a 200 day moving average price of $4.19. ViewRay has a 1-year low of $2.69 and a 1-year high of $8.00. The company’s market capitalization is $175.09 million.

ViewRay (NASDAQ:VRAY) last issued its earnings results on Monday, August 15th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.29) by $0.03. Equities analysts predict that ViewRay will post ($1.20) EPS for the current fiscal year.

In related news, Director David P. Bonita acquired 1,138,074 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was acquired at an average price of $2.95 per share, with a total value of $3,357,318.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Aditya Puri acquired 1,472,803 shares of the company’s stock in a transaction on Friday, September 9th. The shares were bought at an average cost of $2.95 per share, with a total value of $4,344,768.85. Following the acquisition, the director now directly owns 18,964 shares in the company, valued at $55,943.80. The disclosure for this purchase can be found here. 59.10% of the stock is currently owned by corporate 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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