Analysts at Wall Street Zen have recently downgraded shares of Brainsway Ltd. (NASDAQ: BWAY) from a “buy” rating to a “hold” rating in a note issued to investors on November 11, 2023. This adjustment adds to a series of mixed evaluations from various brokerages regarding the company’s stock performance.
In their latest commentary, HC Wainwright raised their target price for Brainsway from $17.00 to $18.00, maintaining a “buy” rating. This report was released on November 13, 2023. Conversely, Weiss Ratings reiterated a “hold (c)” rating on November 24, 2023, reflecting a cautious outlook. Additionally, Northland Securities increased their price objective for Brainsway from $19.00 to $23.00, issuing an “outperform” rating on November 12, 2023. Currently, two analysts have rated the stock with a Buy designation, while one has assigned a Hold rating. According to MarketBeat, Brainsway enjoys an average rating of “Moderate Buy” with a consensus target price of $20.50.
Brainsway reported its earnings results on November 11, 2023, posting earnings per share (EPS) of $0.08. This figure fell short of the consensus estimate of $0.11 by $0.03. The company generated revenue of $13.51 million for the quarter, exceeding analyst estimates of $13.04 million. Brainsway’s return on equity was recorded at 9.46%, with a net margin of 12.73%. Analysts forecast that the company will achieve an EPS of $0.08 for the current fiscal year.
Institutional Investor Activity
Recent movements among institutional investors indicate a growing interest in Brainsway. NewEdge Advisors LLC increased its stake in the company by 7.4% during the third quarter, now owning 28,629 shares valued at approximately $431,000 after acquiring an additional 1,964 shares. Likewise, Zuckerman Investment Group LLC raised its holdings by 5.3%, bringing its total to 40,000 shares worth about $603,000 following a purchase of 2,000 shares.
Furthermore, Huntleigh Advisors Inc. increased its position in Brainsway by 5.7% during the second quarter, now holding 77,416 shares worth $1,018,000 after acquiring an additional 4,143 shares. Raymond James Financial Inc. and Bank of America Corp DE also entered new positions in Brainsway during the second and third quarters, investing approximately $85,000 and $107,000, respectively. Currently, institutional investors own approximately 30.11% of Brainsway.
About Brainsway Ltd.
Brainsway Ltd. specializes in developing and selling noninvasive neurostimulation treatments aimed at addressing mental health disorders both in the United States and internationally. The company’s technology, known as Deep Transcranial Magnetic Stimulation, is utilized for treating a variety of conditions, including major depressive disorders, anxiety, obsessive-compulsive disorder, smoking addiction, bipolar disorder, post-traumatic stress disorder, schizophrenia, Alzheimer’s disease, autism, chronic pain, multiple sclerosis, post-stroke rehabilitation, and Parkinson’s disease.
As Brainsway continues to navigate the complexities of the market, analysts and investors alike will be watching closely to see how these recent developments impact its stock performance and overall growth trajectory.
