Piper Sandler analyst Jason Bednar lowered the firm’s price target on ViewRay to $2 from $6.50 and keeps an Overweight rating on the shares. The selling pressure in ViewRay has been overwhelming over the past week, which has placed shares in the same bucket as plenty of other smid cap medtech stocks facing looming capital needs, the analyst tells investors in a research note. The analyst, however, can see potential strategic interest in ViewRay as it explores strategic alternatives. A larger player would likely be able to better navigate the operational challenges ViewRay has encountered, as well as quickly improve the company’s margin profile, says Piper.
Published first on TheFly
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