HC Wainwright Has Lowered Expectations for Brainsway (NASDAQ:BWAY) Stock Price

Brainsway (NASDAQ:BWAY) had its target price cut by HC Wainwright from $30.00 to $15.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 9.41% from the stock’s current price.

BWAY has been the topic of several other research reports. Northland Securities set a $15.00 target price on shares of Brainsway in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Brainsway Price Performance

Brainsway stock opened at $13.71 on Thursday. The business has a 50 day simple moving average of $12.13 and a 200 day simple moving average of $9.53. The company has a market capitalization of $537.71 million, a PE ratio of 54.84 and a beta of 1.20. Brainsway has a one year low of $3.92 and a one year high of $14.65.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Brainsway had a return on equity of 11.34% and a net margin of 14.62%.The firm had revenue of $14.55 million for the quarter, compared to analysts’ expectations of $14.02 million. Equities analysts anticipate that Brainsway will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Brainsway during the second quarter worth $85,000. Bank of America Corp DE bought a new position in shares of Brainsway in the third quarter valued at about $107,000. Royal Bank of Canada raised its holdings in shares of Brainsway by 1,145.9% in the fourth quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after buying an additional 7,735 shares during the last quarter. Centiva Capital LP acquired a new position in Brainsway during the 3rd quarter worth about $181,000. Finally, NewEdge Advisors LLC lifted its position in Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after buying an additional 7,549 shares in the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.

About Brainsway

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.