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

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $16.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 53.11% from the stock’s current price.

BrainsWay Stock Performance

BrainsWay stock opened at $10.45 on Monday. BrainsWay has a fifty-two week low of $5.67 and a fifty-two week high of $11.79. The company has a market capitalization of $197.33 million, a P/E ratio of 104.51 and a beta of 1.32. The stock has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $9.76.

BrainsWay (NASDAQ:BWAY) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. BrainsWay had a return on equity of 3.52% and a net margin of 3.88%. The company had revenue of $11.54 million for the quarter, compared to analyst estimates of $11.45 million. As a group, analysts forecast that BrainsWay will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in shares of BrainsWay in the fourth quarter valued at about $44,000. GAMMA Investing LLC increased its position in BrainsWay by 720.7% in the 1st quarter. GAMMA Investing LLC now owns 9,356 shares of the company’s stock valued at $89,000 after acquiring an additional 8,216 shares during the period. Palumbo Wealth Management LLC acquired a new position in BrainsWay in the 1st quarter valued at about $111,000. Trexquant Investment LP purchased a new stake in BrainsWay during the 1st quarter valued at approximately $129,000. Finally, Sei Investments Co. acquired a new stake in BrainsWay during the 4th quarter worth approximately $149,000. 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.