BrainsWay (NASDAQ:BWAY) Rating Reiterated by HC Wainwright

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $16.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 61.29% from the company’s current price. HC Wainwright also issued estimates for BrainsWay’s Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.02 EPS and FY2024 earnings at $0.06 EPS.

Separately, Northland Securities upped their price objective on shares of BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd.

BrainsWay Stock Down 0.2 %

Shares of BWAY opened at $9.92 on Monday. The stock’s 50-day moving average price is $8.47 and its 200 day moving average price is $6.90. The firm has a market capitalization of $165.32 million, a price-to-earnings ratio of -110.22 and a beta of 1.26. BrainsWay has a 12-month low of $3.09 and a 12-month high of $10.61.

BrainsWay (NASDAQ:BWAY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter. BrainsWay had a return on equity of 1.45% and a net margin of 1.67%. The business had revenue of $10.01 million for the quarter, compared to analyst estimates of $9.40 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. Equities research analysts expect that BrainsWay will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BWAY. Quadrature Capital Ltd bought a new position in shares of BrainsWay in the fourth quarter worth about $70,000. Essex Investment Management Co. LLC raised its position in BrainsWay by 37.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 324,843 shares of the company’s stock worth $1,718,000 after purchasing an additional 88,593 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in BrainsWay by 583.2% during the 1st quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock worth $923,000 after buying an additional 149,740 shares in the last quarter. Virtu Financial LLC bought a new position in BrainsWay in the 1st quarter valued at $60,000. Finally, Rhumbline Advisers increased its stake in shares of BrainsWay by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after buying an additional 1,695 shares during the period. Institutional investors and hedge funds 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.