Brainsway (NASDAQ:BWAY) Given Buy Rating at HC Wainwright

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $19.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 58.47% from the stock’s current price.

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

Brainsway Stock Up 4.8%

Shares of NASDAQ BWAY traded up $0.55 during trading on Monday, reaching $11.99. 108,949 shares of the stock were exchanged, compared to its average volume of 150,993. The company has a market capitalization of $482.60 million, a price-to-earnings ratio of 27.25 and a beta of 1.29. The business’s 50-day moving average price is $13.71 and its 200 day moving average price is $14.64. Brainsway has a twelve month low of $7.14 and a twelve month high of $17.40.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $16.54 million. As a group, sell-side analysts expect that Brainsway will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. HWG Holdings LP acquired a new position in Brainsway in the third quarter worth about $3,340,000. Tidal Investments LLC increased its holdings in Brainsway by 492.8% in the second quarter. Tidal Investments LLC now owns 89,248 shares of the company’s stock valued at $1,384,000 after buying an additional 74,193 shares during the last quarter. NewEdge Advisors LLC raised its stake in Brainsway by 434.6% during the second quarter. NewEdge Advisors LLC now owns 18,830 shares of the company’s stock valued at $292,000 after buying an additional 15,308 shares in the last quarter. Ballast Advisors LLC acquired a new stake in Brainsway during the first quarter valued at approximately $55,000. Finally, Bank of America Corp DE bought a new position in Brainsway during the 1st quarter worth approximately $206,000. 30.11% of the stock is owned by institutional investors and hedge funds.

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.