BrainsWay (NASDAQ:BWAY) Price Target Raised to $12.50

BrainsWay (NASDAQ:BWAY) had its price target lifted by Northland Securities from $11.00 to $12.50 in a report released on Thursday morning, Benzinga reports. Northland Securities currently has an outperform rating on the stock.

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

BrainsWay Stock Performance

BrainsWay stock opened at $9.50 on Thursday. The stock has a 50-day simple moving average of $7.83 and a 200 day simple moving average of $6.54. The stock has a market capitalization of $158.32 million, a P/E ratio of -105.56 and a beta of 1.26. BrainsWay has a 52 week low of $3.09 and a 52 week high of $9.72.

BrainsWay (NASDAQ:BWAY) last issued 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 company had revenue of $10.01 million during the quarter, compared to the consensus estimate of $9.40 million. During the same period in the previous year, the company posted ($0.05) EPS. Research analysts forecast that BrainsWay will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On BrainsWay

A number of hedge funds have recently bought and sold shares of BWAY. Acadian Asset Management LLC increased its stake in BrainsWay by 583.2% during the 1st quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock worth $923,000 after acquiring an additional 149,740 shares during the period. Essex Investment Management Co. LLC grew its holdings in shares of BrainsWay by 37.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 324,843 shares of the company’s stock worth $1,718,000 after purchasing an additional 88,593 shares in the last quarter. Perritt Capital Management Inc bought a new position in shares of BrainsWay in the second quarter worth $121,000. Virtu Financial LLC acquired a new position in BrainsWay in the first quarter valued at about $60,000. Finally, Quadrature Capital Ltd bought a new stake in BrainsWay during the fourth quarter worth about $70,000. 30.11% of the stock is owned by 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.