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

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

Separately, Northland Securities increased their price objective on shares of BrainsWay from $9.00 to $11.00 and gave the company an outperform rating in a research note on Wednesday, August 7th.

BrainsWay Stock Up 1.4 %

Shares of NASDAQ:BWAY opened at $8.40 on Monday. The stock has a market cap of $139.99 million, a price-to-earnings ratio of -93.33 and a beta of 1.25. The business’s 50 day moving average is $7.40 and its 200 day moving average is $6.32. BrainsWay has a 12-month low of $3.09 and a 12-month high of $8.75.

BrainsWay (NASDAQ:BWAY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $10.01 million for the quarter, compared to the consensus estimate of $9.40 million. BrainsWay had a net margin of 1.67% and a return on equity of 1.45%. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, equities research analysts expect that BrainsWay will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On BrainsWay

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased 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 during the last quarter. Tucker Asset Management LLC increased its stake in shares of BrainsWay by 1,686.9% during the 4th quarter. Tucker Asset Management LLC now owns 5,450 shares of the company’s stock worth $35,000 after purchasing an additional 5,145 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of BrainsWay in the 4th quarter worth approximately $70,000. Virtu Financial LLC purchased a new position in BrainsWay in the first quarter valued at approximately $60,000. Finally, Perritt Capital Management Inc bought a new position in BrainsWay during the second quarter valued at $121,000. 30.11% of the stock is owned by hedge funds and other 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.