BTIG Starts ViewRay (VRAY) at Buy
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BTIG initiated coverage on ViewRay (NASDAQ: VRAY) with a Buy rating and a price target of $6. Analyst Sean Lavin said he thinks live imaging could start a "hospital arms race."
The analyst explained, "If we or someone we knew needed non-proton radiation therapy, we would seek out or recommend treatment with an MRI guided system because of its ability to image in real time. VRAY’s MRIdian system is the only radiation option at this time to image while treating instead of before treatment. We feel this will likely offer better outcomes and less side effects. 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."
Shares of ViewRay closed at $3.58 yesterday.
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