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

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $16.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 71.12% from the company’s previous close.

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

BrainsWay Stock Up 2.2 %

BrainsWay stock opened at $9.35 on Monday. The company has a 50 day moving average of $9.84 and a 200-day moving average of $8.24. BrainsWay has a twelve month low of $4.61 and a twelve month high of $10.98. The stock has a market capitalization of $175.90 million, a PE ratio of 93.51 and a beta of 1.23.

BrainsWay (NASDAQ:BWAY) last announced its 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. The firm had revenue of $10.50 million during the quarter, compared to analyst estimates of $10.07 million. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. During the same period in the prior year, the business earned ($0.01) EPS. Equities analysts anticipate that BrainsWay will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On BrainsWay

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its position 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 acquiring an additional 84,371 shares during the last quarter. Rhumbline Advisers raised its stake in shares of BrainsWay by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock worth $110,000 after purchasing an additional 1,695 shares in the last quarter. Perritt Capital Management Inc bought a new stake in shares of BrainsWay during the 2nd quarter worth approximately $121,000. Finally, Good Life Advisors LLC boosted its holdings in shares of 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 during the last quarter. 30.11% of the stock is owned by 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.