Zacks Investment Research Lowers IsoRay (ISR) to Sell

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Zacks Investment Research downgraded shares of IsoRay (NYSEAMERICAN:ISR) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

According to Zacks, “IsoRay, Inc. is a medical technology company that produces therapeutic radioactive isotopes. Through its subsidiary, IsoRay Medical, Inc., develops, manufactures and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases. The Company is engaged in the production and sales of Cesium-131 (Cs-131) brachytherapy seeds. Brachytherapy seeds are small devices containing a therapeutic dose of radiation used in an interstitial radiation procedure. The brachytherapy procedure places radioactive seeds as close as possible to (in or near) the cancerous tumor. The Cs-131 includes radioisotope in the treatment of all malignant tumors, such as prostate cancer, brain cancer, breast cancer, colorectal cancer, gynecological cancer, lung cancer, liver cancer, ocular melanoma and pancreatic cancer. The Company’s Proxcelan Cesium-131 seed is classified as a Class II device. The Company competes with Varian Medical Systems, Siemens Healthcare, Elekta AB and Accuray Incorporated. “

Several other brokerages have also commented on ISR. Maxim Group lowered IsoRay from a buy rating to a hold rating in a research note on Friday, November 9th. HC Wainwright set a $1.00 price target on IsoRay and gave the company a hold rating in a research note on Tuesday, November 13th.

ISR stock opened at $0.43 on Thursday. IsoRay has a twelve month low of $0.27 and a twelve month high of $1.22.

IsoRay (NYSEAMERICAN:ISR) last released its earnings results on Thursday, November 8th. The healthcare company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $1.56 million during the quarter, compared to analysts’ expectations of $1.73 million.

In other news, CEO Lori A. Woods purchased 130,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were purchased at an average price of $0.40 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the chief executive officer now owns 125,000 shares in the company, valued at approximately $50,000. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have bought 201,735 shares of company stock worth $81,619.

A hedge fund recently raised its stake in IsoRay stock. Vanguard Group Inc. boosted its stake in shares of IsoRay, Inc. (NYSEAMERICAN:ISR) by 24.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857,268 shares of the healthcare company’s stock after purchasing an additional 367,324 shares during the quarter. Vanguard Group Inc. owned about 2.76% of IsoRay worth $964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About IsoRay

IsoRay, Inc, through its subsidiary, IsoRay Medical, Inc, develops, manufactures, and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the United States. The company produces CS-1 Cesium-131 brachytherapy seeds for the treatment of prostate, brain, lung, head and neck, gynecological, pelvic/abdominal, and colorectal cancers, as well as ocular melanoma.

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