Accuray (NASDAQ:ARAY) Price Target Cut to $2.00 by Analysts at BTIG Research

Accuray (NASDAQ:ARAY) had its target price decreased by research analysts at BTIG Research from $4.00 to $2.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s price objective indicates a potential upside of 164.34% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Accuray in a research report on Monday, December 29th. Wall Street Zen raised shares of Accuray from a “sell” rating to a “hold” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2.00.

Accuray Stock Performance

Accuray stock opened at $0.76 on Thursday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.56 and a quick ratio of 0.76. The firm has a market capitalization of $85.75 million, a P/E ratio of -4.73 and a beta of 1.15. Accuray has a 1-year low of $0.72 and a 1-year high of $2.95. The company’s 50-day moving average is $0.90 and its 200 day moving average is $1.27.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Accuray had a negative return on equity of 34.06% and a negative net margin of 4.28%.The business had revenue of $102.24 million during the quarter, compared to analyst estimates of $100.86 million. Research analysts forecast that Accuray will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Accuray

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Accuray in the 3rd quarter worth approximately $35,000. Tower Research Capital LLC TRC boosted its stake in Accuray by 604.2% in the second quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 30,182 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Accuray by 32.4% in the third quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock valued at $66,000 after acquiring an additional 9,633 shares in the last quarter. Teton Advisors LLC purchased a new position in Accuray in the third quarter worth $67,000. Finally, R Squared Ltd increased its position in shares of Accuray by 94.0% during the third quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock worth $68,000 after purchasing an additional 19,648 shares in the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Company Profile

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.