Northland Securities Raises BrainsWay (NASDAQ:BWAY) Price Target to $12.50

BrainsWay (NASDAQ:BWAY) had its target price increased by research analysts at Northland Securities from $11.00 to $12.50 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ target price would indicate a potential upside of 38.89% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of BrainsWay in a research note on Monday, September 16th.

BrainsWay Stock Performance

Shares of NASDAQ BWAY opened at $9.00 on Thursday. The company has a market cap of $149.99 million, a PE ratio of -100.00 and a beta of 1.25. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $6.49. BrainsWay has a fifty-two week low of $3.09 and a fifty-two week high of $9.40.

BrainsWay (NASDAQ:BWAY) last released its earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter. BrainsWay had a return on equity of 1.45% and a net margin of 1.67%. The firm had revenue of $10.01 million during the quarter, compared to the consensus estimate of $9.40 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, sell-side analysts predict that BrainsWay will post 0.06 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 company. Perritt Capital Management Inc acquired a new position in BrainsWay in the 2nd quarter valued at $121,000. Acadian Asset Management LLC grew its holdings in BrainsWay by 48.1% in the 2nd quarter. Acadian Asset Management LLC now owns 259,787 shares of the company’s stock valued at $1,567,000 after buying an additional 84,371 shares in the last quarter. Rhumbline Advisers grew its holdings in BrainsWay by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after buying an additional 1,695 shares in the last quarter. Virtu Financial LLC purchased a new stake in BrainsWay in the 1st quarter valued at $60,000. Finally, Essex Investment Management Co. LLC grew its holdings in BrainsWay by 37.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 324,843 shares of the company’s stock valued at $1,718,000 after buying an additional 88,593 shares in the last quarter. 30.11% of the stock is owned by institutional investors and hedge funds.

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.