Aegis Capital has reiterated its ‘Buy’ rating and price target of $11 on shares of ViewRay, Inc. (NASDAQ: VRAY). The action follows the release of ViewRay’s financial results, including fourth-quarter 2016 revenue of $16.1 million. Operating costs for the quarter were $9.3 million, down from $10.7 million for the fourth quarter of 2015. ViewRay also provided an outlook for 2017, including an update on the MRIdian LINAC system. The company reported a clear increase in interest in the system after receiving FDA approval in February. Orders are anticipated to further increase in 2017, driving revenue for the year.
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ViewRay®, Inc. (NASDAQ: VRAY) designs, manufactures and markets the MRIdian® radiation therapy system. MRIdian integrates MRI technology, radiation delivery and proprietary software to locate, target and track the position and shape of soft-tissue tumors during radiation. ViewRay believes this combination of enhanced visualization and accuracy will significantly improve outcomes for patients. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
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