HC Wainwright Has Positive View of BrainsWay FY2024 Earnings

BrainsWay Ltd. (NASDAQ:BWAY) – Equities research analysts at HC Wainwright increased their FY2024 earnings estimates for BrainsWay in a report released on Monday, December 23rd. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of $0.14 for the year, up from their previous forecast of $0.06. HC Wainwright has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for BrainsWay’s current full-year earnings is $0.06 per share. HC Wainwright also issued estimates for BrainsWay’s Q4 2024 earnings at $0.06 EPS, Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.10 EPS and FY2025 earnings at $0.32 EPS.

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

BrainsWay Price Performance

BWAY opened at $9.35 on Wednesday. The firm has a market capitalization of $175.90 million, a PE ratio of 93.51 and a beta of 1.23. The business’s 50-day moving average is $9.84 and its two-hundred day moving average is $8.26. BrainsWay has a 1 year low of $4.61 and a 1 year high of $10.98.

BrainsWay (NASDAQ:BWAY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $10.50 million for the quarter, compared to the consensus estimate of $10.07 million. BrainsWay had a return on equity of 3.52% and a net margin of 3.88%. During the same period last year, the business posted ($0.01) EPS.

Institutional Investors Weigh In On BrainsWay

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of 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. Perritt Capital Management Inc purchased a new stake in BrainsWay during the 2nd quarter worth approximately $121,000. Good Life Advisors LLC increased its stake in BrainsWay by 65.5% during the 3rd quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock valued at $516,000 after purchasing an additional 22,080 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in BrainsWay by 48.1% during 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 in the last quarter. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

About BrainsWay

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.