BrainsWay (NASDAQ:BWAY) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of BrainsWay (NASDAQ:BWAY) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

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

BrainsWay Stock Performance

Shares of NASDAQ:BWAY opened at $9.15 on Monday. The company’s fifty day moving average is $9.84 and its two-hundred day moving average is $8.24. BrainsWay has a 1-year low of $4.61 and a 1-year high of $10.98. The stock has a market capitalization of $172.14 million, a price-to-earnings ratio of 91.51 and a beta of 1.23.

BrainsWay (NASDAQ:BWAY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.07 million. During the same period in the prior year, the firm earned ($0.01) EPS. Sell-side analysts expect that BrainsWay will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On BrainsWay

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of BrainsWay by 48.1% in the second quarter. Acadian Asset Management LLC now owns 259,787 shares of the company’s stock valued at $1,567,000 after buying an additional 84,371 shares during the period. Rhumbline Advisers boosted its holdings 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 buying an additional 1,695 shares in the last quarter. Perritt Capital Management Inc acquired a new position in BrainsWay in the second quarter worth approximately $121,000. Finally, Good Life Advisors LLC lifted its position in shares of 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 acquiring an additional 22,080 shares during the last quarter. 30.11% of the stock is owned by institutional investors.

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.