BrainsWay’s (BWAY) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of BrainsWay (NASDAQ:BWAY) in a research note issued to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $16.00 price target on the stock.

Separately, Northland Securities upped 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 Price Performance

BrainsWay stock opened at $9.15 on Monday. BrainsWay has a 1-year low of $4.61 and a 1-year high of $10.98. The stock’s 50 day moving average price is $9.84 and its 200 day moving average price is $8.24. The company has a market cap of $172.14 million, a PE ratio of 91.51 and a beta of 1.23.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BWAY. Rhumbline Advisers raised 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 acquiring an additional 1,695 shares during the period. Perritt Capital Management Inc acquired a new position in shares of BrainsWay in the second quarter worth about $121,000. Good Life Advisors LLC boosted its holdings in BrainsWay by 65.5% in the third 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 during the last quarter. Finally, Acadian Asset Management LLC grew 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. Hedge funds and other 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.