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

HC Wainwright reissued their buy rating on shares of BrainsWay (NASDAQ:BWAY) in a research note published on Monday, Benzinga reports. The firm currently has a $16.00 price objective on the stock. HC Wainwright also issued estimates for BrainsWay’s Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.02 EPS, FY2024 earnings at $0.06 EPS and FY2025 earnings at $0.07 EPS.

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

BrainsWay Trading Up 1.4 %

NASDAQ BWAY opened at $9.68 on Monday. BrainsWay has a 12 month low of $3.09 and a 12 month high of $10.61. The company has a market capitalization of $161.32 million, a PE ratio of -107.56 and a beta of 1.26. The stock has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $6.94.

BrainsWay (NASDAQ:BWAY) last posted its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter. BrainsWay had a return on equity of 1.45% and a net margin of 1.67%. The firm had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $9.40 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts predict that BrainsWay will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BWAY. Virtu Financial LLC acquired a new position in shares of BrainsWay during the first quarter worth about $60,000. Quadrature Capital Ltd acquired a new position in shares of BrainsWay during the fourth quarter worth about $70,000. Rhumbline Advisers boosted its position in shares of 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 during the period. Perritt Capital Management Inc acquired a new position in shares of BrainsWay during the second quarter worth about $121,000. Finally, Good Life Advisors LLC boosted its position in shares of BrainsWay by 65.5% during the third quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock worth $516,000 after buying an additional 22,080 shares during the period. 30.11% of the stock is owned by institutional investors and hedge funds.

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.