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

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $19.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 58.47% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. LADENBURG THALM/SH SH raised their target price on Brainsway from $18.00 to $18.80 and gave the stock a “buy” rating in a report on Thursday, August 13th. BTIG Research reissued a “buy” rating and set a $20.00 price target on shares of Brainsway in a report on Thursday, September 10th. Zacks Research cut Brainsway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings downgraded Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, New Street Research reaffirmed a “buy” rating on shares of Brainsway in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.20.

Brainsway Trading Up 4.8%

BWAY stock traded up $0.55 during midday trading on Monday, reaching $11.99. 108,949 shares of the company’s stock traded hands, compared to its average volume of 150,993. Brainsway has a 52-week low of $7.14 and a 52-week high of $17.40. The stock has a market cap of $482.60 million, a P/E ratio of 27.25 and a beta of 1.29. The stock’s 50-day moving average is $13.65 and its 200 day moving average is $14.63.

Brainsway (NASDAQ:BWAY) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. Brainsway had a net margin of 15.65% and a return on equity of 12.74%. The business had revenue of $17.11 million for the quarter, compared to analysts’ expectations of $16.54 million. As a group, research analysts expect that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BWAY. Tidal Investments LLC increased its stake in Brainsway by 492.8% in the 2nd quarter. Tidal Investments LLC now owns 89,248 shares of the company’s stock worth $1,384,000 after buying an additional 74,193 shares in the last quarter. HWG Holdings LP purchased a new position in shares of Brainsway in the third quarter valued at about $3,340,000. Renaissance Technologies LLC lifted its position in shares of Brainsway by 87.2% in the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after acquiring an additional 241,560 shares in the last quarter. Masters Capital Management LLC boosted its stake in shares of Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $21,928,000 after acquiring an additional 650,000 shares during the period. Finally, Y.D. More Investments Ltd boosted its stake in shares of Brainsway by 136.6% in the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after acquiring an additional 157,042 shares during the period. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Brainsway Company Profile

BrainsWay Ltd. is a medical technology company that develops and commercializes noninvasive treatments for brain disorders. Its primary technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields to stimulate targeted areas of the brain and is delivered through specialized treatment systems and helmet-like coils.

The company’s Deep TMS platform is used by healthcare providers in the treatment of major depressive disorder, obsessive-compulsive disorder and smoking addiction, subject to applicable regulatory clearances and local treatment guidelines.