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

Key Points

• HC Wainwright reaffirmed a “Buy” rating on Brainsway, with a $19 price target implying 56.77% upside from the previous close.
• Analyst sentiment remains positive overall: five analysts rate Brainsway a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average target of $18.20.
• Brainsway reported quarterly EPS of $0.14 and revenue of $17.11 million, exceeding analyst estimates of $0.10 EPS and $16.54 million in revenue.

Brainsway (NASDAQ:BWAY - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $19.00 price objective on the stock. HC Wainwright's price objective suggests a potential upside of 56.77% from the company's previous close.

BWAY has been the subject of several other reports. Weiss Ratings cut Brainsway from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. LADENBURG THALM/SH SH lifted their target price on Brainsway from $18.00 to $18.80 and gave the company a "buy" rating in a research report on Thursday, August 13th. BTIG Research restated a "buy" rating and issued a $20.00 target price on shares of Brainsway in a research note on Thursday, September 10th. New Street Research restated a "buy" rating on shares of Brainsway in a research note on Friday, July 24th. Finally, Wall Street Zen raised Brainsway from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Brainsway currently has an average rating of "Moderate Buy" and a consensus target price of $18.20.

Brainsway Stock Performance

NASDAQ BWAY traded up $0.68 on Monday, reaching $12.12. The company had a trading volume of 58,104 shares, compared to its average volume of 150,689. The firm has a market capitalization of $487.83 million, a price-to-earnings ratio of 27.51 and a beta of 1.29. Brainsway has a 1-year low of $7.14 and a 1-year high of $17.40. The company's fifty day moving average is $13.71 and its 200-day moving average is $14.64.

Brainsway (NASDAQ:BWAY - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.04. Brainsway had a return on equity of 12.74% and a net margin of 15.65%. The firm had revenue of $17.11 million during the quarter, compared to analysts' expectations of $16.54 million. On average, research analysts forecast that Brainsway will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Brainsway

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Masters Capital Management LLC boosted its stake in shares of Brainsway by 65.0% during the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company's stock worth $21,928,000 after buying an additional 650,000 shares during the last quarter. HWG Holdings LP bought a new position in shares of Brainsway in the 3rd quarter valued at about $3,340,000. Renaissance Technologies LLC increased 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 during the last quarter. Sei Investments Co. increased its position in shares of Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company's stock valued at $3,009,000 after acquiring an additional 163,925 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its position 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 valued at $3,615,000 after acquiring an additional 157,042 shares during the last quarter. 30.11% of the stock is owned by institutional investors.

About Brainsway

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.