Maxim Group Assumes IsoRay (ISR) at Buy

Maxim Group assumes coverage on IsoRay, Inc. (NYSE: ISR) with a Buy rating and a price target of $5.00 (from $3.50).

Analyst Jason Kolbert said the rating is driven by their product model and the associated assumptions for market share penetration in prostate cancer, other cancers, and glioma across both products, Proxcelan and GliaSite RTS (w/ Cesitrex liquid Cs-131).

"IsoRay announced the first implant brachytherapy seed (Proxcelan Cs-131) in brain cancer. Cesium-131 emits a high energy level for a short period of time. We find it to be superior to I-125 or Pd-103. Over time, we expect these attributes to drive a 20% market share penetration in the global radiation (localized therapy) $300M marketplace," Kolbert commented.

He added, "We continue to be excited for the market share build--account by account and country by country--in both products (seeds and liquid) over the coming year as KOLs convert to Cs-131 based on its superior attributes."

For an analyst ratings summary and ratings history on IsoRay, Inc. click here. For more ratings news on IsoRay, Inc. click here.

Shares of IsoRay, Inc. closed at $2.75 yesterday.

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