Mizuho Securities USA LLC has initiated coverage with a ‘Buy’ rating and price target of $12 on shares of ViewRay, Inc.’s (NASDAQ: VRAY) stock. The company designs, manufactures and markets the MRIdian® radiation therapy system, which received CE-mark approval and 510(k) approval in February of this year. The analyst sees immense potential in the MRI-guided LINAC to disrupt current radiation oncology. The MRI-LINAC offers real-time imaging improving dosimetry and reduces the toxicity to patients, which makes for stiff competition for other companies that seem to have recently began to focus on real-time imaging. Additionally, the analyst believes that the company may reach breakeven by the end of 2018 if it installs five machines per quarter.
For more information, visit www.ViewRay.com
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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