HC Wainwright Reiterates “Buy” Rating for BrainsWay (NASDAQ:BWAY)

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $16.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 73.16% from the stock’s previous close.

Separately, Northland Securities raised their price objective on BrainsWay from $11.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday, October 3rd.

BrainsWay Trading Up 3.1 %

Shares of BWAY opened at $9.24 on Monday. The company’s fifty day simple moving average is $9.84 and its 200 day simple moving average is $8.22. BrainsWay has a 1-year low of $4.61 and a 1-year high of $10.98. The company has a market cap of $173.83 million, a price-to-earnings ratio of 92.41 and a beta of 1.23.

BrainsWay (NASDAQ:BWAY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. The company had revenue of $10.50 million for the quarter, compared to analyst estimates of $10.07 million. During the same period in the previous year, the business earned ($0.01) EPS. As a group, research analysts forecast that BrainsWay will post 0.06 earnings per share for the current year.

Institutional Trading of BrainsWay

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in BrainsWay by 10.3% during the second quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock worth $110,000 after acquiring an additional 1,695 shares during the last quarter. Acadian Asset Management LLC boosted its stake in BrainsWay by 48.1% in the 2nd quarter. Acadian Asset Management LLC now owns 259,787 shares of the company’s stock valued at $1,567,000 after purchasing an additional 84,371 shares during the period. Perritt Capital Management Inc bought a new stake in BrainsWay in the 2nd quarter valued at $121,000. Finally, Good Life Advisors LLC grew its holdings in BrainsWay by 65.5% in the 3rd quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock valued at $516,000 after buying an additional 22,080 shares in the last quarter. Institutional investors own 30.11% of the company’s stock.

BrainsWay Company Profile

BrainsWay Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabilitation, and Parkinson's diseases.