Northland Securities Forecasts Strong Price Appreciation for Brainsway (NASDAQ:BWAY) Stock

Key Points

• Northland Securities has increased its price target for Brainsway (NASDAQ:BWAY) from $15.00 to $19.00, indicating a potential upside of 47.23% based on the stock's previous close.
• Brainsway's stock has recently traded at $12.91 and has a market capitalization of $243.90 million, along with a P/E ratio of 64.61.
• The company reported an earnings per share (EPS) of $0.10, surpassing estimates and highlighting a net margin of 9.01% for the quarter.

Brainsway (NASDAQ:BWAY - Get Free Report) had its price target increased by Northland Securities from $15.00 to $19.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Northland Securities' target price would suggest a potential upside of 47.23% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $17.00 price target (up from $16.00) on shares of Brainsway in a research note on Thursday. Wall Street Zen cut shares of Brainsway from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Brainsway Stock Performance

Shares of BWAY traded up $0.21 during mid-day trading on Thursday, reaching $12.91. 73,024 shares of the company's stock traded hands, compared to its average volume of 52,304. Brainsway has a 12 month low of $7.06 and a 12 month high of $13.65. The stock has a market capitalization of $243.90 million, a P/E ratio of 64.61 and a beta of 1.42. The business's 50-day moving average price is $11.98 and its 200-day moving average price is $10.50.

Brainsway (NASDAQ:BWAY - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Brainsway had a net margin of 9.01% and a return on equity of 7.35%. The firm had revenue of $12.63 million for the quarter, compared to the consensus estimate of $12.34 million. Equities research analysts anticipate that Brainsway will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Brainsway

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of Brainsway in the 4th quarter valued at about $44,000. GAMMA Investing LLC grew its stake 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 stake in Brainsway during the 1st quarter worth $111,000. Trexquant Investment LP purchased a new position in shares of Brainsway during the 1st quarter worth $129,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Brainsway by 14.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 19,228 shares of the company's stock valued at $181,000 after buying an additional 2,446 shares during the period. Hedge funds and other institutional investors own 30.11% of the company's stock.

About Brainsway

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.

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