Oppenheimer Raises BrainsWay (NASDAQ:BWAY) Price Target to $11.00

BrainsWay (NASDAQ:BWAY) had its price objective boosted by research analysts at Oppenheimer from $10.00 to $11.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 87.39% from the company’s previous close.

Separately, HC Wainwright increased their price objective on BrainsWay from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday.

BrainsWay Price Performance

Shares of NASDAQ:BWAY traded up $0.17 during trading on Thursday, hitting $5.87. 185,067 shares of the company were exchanged, compared to its average volume of 112,735. The firm’s 50 day moving average price is $5.56 and its 200-day moving average price is $5.69. The stock has a market capitalization of $97.68 million, a P/E ratio of -43.46 and a beta of 1.18. BrainsWay has a 12-month low of $1.38 and a 12-month high of $7.61.

BrainsWay (NASDAQ:BWAY) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. BrainsWay had a negative net margin of 13.20% and a negative return on equity of 10.05%. The company had revenue of $9.03 million during the quarter, compared to the consensus estimate of $8.40 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. As a group, equities research analysts anticipate that BrainsWay will post -0.02 EPS for the current year.

Hedge Funds Weigh In On BrainsWay

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tucker Asset Management LLC lifted its stake in shares of BrainsWay by 1,686.9% in the 4th quarter. Tucker Asset Management LLC now owns 5,450 shares of the company’s stock worth $35,000 after acquiring an additional 5,145 shares during the period. Acadian Asset Management LLC acquired a new stake in BrainsWay in the third quarter valued at about $28,000. Quadrature Capital Ltd purchased a new stake in BrainsWay in the 4th quarter valued at approximately $70,000. Worth Venture Partners LLC increased its position in BrainsWay by 6.0% during the 3rd quarter. Worth Venture Partners LLC now owns 336,643 shares of the company’s stock worth $1,360,000 after purchasing an additional 19,045 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of BrainsWay during the 4th quarter worth approximately $207,000. 30.11% of the stock is currently owned by hedge funds and other 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.