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

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating restated by 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 points to a potential upside of 73.16% from the stock’s previous close.

Separately, Northland Securities increased 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 Trading Up 3.1 %

Shares of BWAY stock opened at $9.24 on Monday. The stock has a market cap of $173.83 million, a P/E ratio of 92.41 and a beta of 1.23. BrainsWay has a 1 year low of $4.61 and a 1 year high of $10.98. The stock has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $8.22.

BrainsWay (NASDAQ:BWAY) last released its earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share for the quarter, beating 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 firm had revenue of $10.50 million during the quarter, compared to the consensus estimate of $10.07 million. During the same period in the prior year, the company posted ($0.01) EPS. Analysts forecast that BrainsWay will post 0.06 EPS for the current year.

Hedge Funds Weigh In On BrainsWay

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its position 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 buying an additional 1,695 shares during the last quarter. Perritt Capital Management Inc acquired a new position in BrainsWay during the second quarter worth about $121,000. Good Life Advisors LLC lifted its holdings in shares of BrainsWay by 65.5% in the third quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock worth $516,000 after acquiring an additional 22,080 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of BrainsWay by 48.1% in 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. Institutional investors own 30.11% of the company’s stock.

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.