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Fly News Breaks for August 9, 2019
VRAY
Aug 9, 2019 | 08:24 EDT
Jefferies analyst Anthony Petrone halved his price target for ViewRay to $7 from $14 saying "all that could go wrong went wrong" in Q2. The company's orders fell short, sales guidance was slashed $30M at the midpoint on slower installs, driving cash burn $15M higher at the midpoint, and it announced the resignation of its CFO in the coming weeks, Petrone tells investors in a research note. The analyst, however, remains positive on the long-term prospects for MRIdian. He keeps a Buy rating on ViewRay.
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