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Fly News Breaks for December 3, 2019
VRAY
Dec 3, 2019 | 09:33 EDT
ViewRay's cash infusion from last night's equity raise will allay concerns regarding near-term liquidity constraints while the pair of strategic investments are "strong indicators" of MRIdian's demand, Jefferies analyst Anthony Petrone tells investors in a research note. This, in combination with the "sky-high short interest:" in the name, should see the "shares double in short order," adds the analyst. He keeps a Buy rating on ViewRay with a $7 price target. The stock in early trading is up 36% to $4.62.
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