Aegis Capital Corp. has initiated coverage of Accuray (NASDAQ: ARAY), issuing a ‘Buy’ rating and $7 price target on the company’s stock. Accuray is a radiation oncology company with distinctive, innovative products specifically designed for image-guided radiosurgery and intensity-modulated radiation therapy – two rapidly growing market segments. The company’s most recent financial results, for the second fiscal quarter and six months ended December 31, 2016, show second-quarter gross orders of $78.5 million with net orders of $54.1 million totaling year-over-year growth of 17%, as well as an ending backlog increase of 16% year-over-year to $426.2 million.
To learn more, visit www.accuray.com
Accuray Incorporated is a radiation oncology company that develops, manufactures and sells precise, innovative treatment solutions that set the standard of care with the aim of helping patients live longer, better lives. The company’s leading-edge technologies deliver the full range of radiation therapy and radiosurgery treatments.
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