Aegis Capital Corp. recently issued a ‘Buy’ rating and price target of $11 on shares of ViewRay, Inc. (NASDAQ: VRAY). The action follows ViewRay’s recent agreement with CRG LP to amend the terms of its $50 million term loan agreement to expand the borrowing capacity to $65 million. The analyst noted this extension, as well as the company’s preliminary first-quarter results, which included two orders for the LINAC with gross proceeds of $12.3 million and three upgrades to installed Cobalt machines to LINACs for $5.8 million. The LINAC was approved in late February, and the analyst cited this as a major inflection point for the company.
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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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