HC Wainwright Raises BrainsWay (NASDAQ:BWAY) Price Target to $15.00

BrainsWay (NASDAQ:BWAY) had its price objective boosted by research analysts at HC Wainwright from $13.00 to $15.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 163.16% from the stock’s previous close.

BrainsWay Trading Down 6.4 %

Shares of NASDAQ:BWAY opened at $5.70 on Thursday. The firm has a market cap of $94.85 million, a price-to-earnings ratio of -43.85 and a beta of 1.18. The stock’s 50-day moving average price is $5.56 and its two-hundred day moving average price is $5.69. BrainsWay has a 12-month low of $1.38 and a 12-month high of $7.61.

BrainsWay (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. BrainsWay had a negative net margin of 13.20% and a negative return on equity of 10.05%. The business had revenue of $9.03 million for the quarter, compared to analyst estimates of $8.40 million. During the same period in the prior year, the firm posted ($0.12) EPS. As a group, research analysts forecast that BrainsWay will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC raised its holdings in shares of BrainsWay by 6.5% in the 3rd quarter. AIGH Capital Management LLC now owns 1,355,022 shares of the company’s stock worth $5,474,000 after purchasing an additional 83,262 shares during the period. Acadian Asset Management LLC acquired a new position in BrainsWay during the third quarter valued at approximately $28,000. Worth Venture Partners LLC lifted its position in BrainsWay by 6.0% during the third quarter. Worth Venture Partners LLC now owns 336,643 shares of the company’s stock valued at $1,360,000 after buying an additional 19,045 shares in the last quarter. Legato Capital Management LLC purchased a new stake in BrainsWay during the fourth quarter worth approximately $542,000. Finally, Jump Financial LLC acquired a new stake in shares of BrainsWay in the fourth quarter worth $207,000. 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.