BrainsWay’s (BWAY) “Buy” Rating Reaffirmed at HC Wainwright

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $16.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 66.32% from the stock’s current price.

BrainsWay Stock Performance

BWAY opened at $9.62 on Wednesday. The business’s 50-day simple moving average is $10.22 and its 200-day simple moving average is $9.58. BrainsWay has a one year low of $4.61 and a one year high of $11.79. The stock has a market capitalization of $181.12 million, a P/E ratio of 96.21 and a beta of 1.29.

Hedge Funds Weigh In On BrainsWay

A number of institutional investors have recently modified their holdings of BWAY. JPMorgan Chase & Co. grew its position in BrainsWay by 316.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,769 shares of the company’s stock worth $136,000 after purchasing an additional 11,221 shares during the last quarter. Rhumbline Advisers raised its stake in shares of BrainsWay by 10.8% during the fourth quarter. Rhumbline Advisers now owns 21,966 shares of the company’s stock worth $207,000 after purchasing an additional 2,144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of BrainsWay during the fourth quarter worth $1,656,000. Sei Investments Co. acquired a new position in shares of BrainsWay during the fourth quarter worth about $149,000. Finally, Phoenix Financial Ltd. raised its holdings in BrainsWay by 100.8% during the fourth quarter. Phoenix Financial Ltd. now owns 482,724 shares of the company’s stock worth $4,552,000 after purchasing an additional 242,366 shares in the last quarter. 30.11% of the stock is owned by institutional investors and hedge funds.

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.