BrainsWay’s (BWAY) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of BrainsWay (NASDAQ:BWAY) in a report released 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 raised their price objective on shares of BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, October 3rd.

BrainsWay Trading Down 3.7 %

NASDAQ:BWAY opened at $9.55 on Monday. BrainsWay has a 1 year low of $3.09 and a 1 year high of $10.61. The stock has a 50-day moving average price of $8.51 and a two-hundred day moving average price of $6.92. The stock has a market cap of $159.15 million, a price-to-earnings ratio of -106.11 and a beta of 1.26.

BrainsWay (NASDAQ:BWAY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $10.01 million during the quarter, compared to analyst estimates of $9.40 million. BrainsWay had a return on equity of 1.45% and a net margin of 1.67%. During the same period in the previous year, the firm earned ($0.05) EPS. Sell-side analysts forecast that BrainsWay will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On BrainsWay

A number of hedge funds and other institutional investors have recently bought and sold shares of BWAY. Acadian Asset Management LLC grew its stake in shares of BrainsWay by 583.2% during the 1st quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock worth $923,000 after acquiring an additional 149,740 shares in the last quarter. Quadrature Capital Ltd bought a new position in BrainsWay in the fourth quarter valued at $70,000. Rhumbline Advisers grew its position in BrainsWay by 10.3% in the second quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after purchasing an additional 1,695 shares in the last quarter. Perritt Capital Management Inc acquired a new stake in BrainsWay in the 2nd quarter valued at $121,000. Finally, Virtu Financial LLC bought a new stake in BrainsWay during the 1st quarter worth about $60,000. Institutional investors and hedge funds 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.