BrainsWay Ltd. (NASDAQ:BWAY) to Post FY2023 Earnings of ($0.14) Per Share, Northland Capmk Forecasts

BrainsWay Ltd. (NASDAQ:BWAY) – Stock analysts at Northland Capmk boosted their FY2023 earnings estimates for shares of BrainsWay in a report issued on Thursday, November 16th. Northland Capmk analyst C. Byrnes now anticipates that the company will post earnings per share of ($0.14) for the year, up from their prior forecast of ($0.21). The consensus estimate for BrainsWay’s current full-year earnings is ($0.36) per share. Northland Capmk also issued estimates for BrainsWay’s Q4 2023 earnings at ($0.01) EPS and FY2024 earnings at ($0.04) EPS.

BrainsWay (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, November 15th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The firm had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $7.70 million. BrainsWay had a negative return on equity of 18.95% and a negative net margin of 28.45%. During the same period last year, the firm posted ($0.15) EPS.

A number of other brokerages have also issued reports on BWAY. Oppenheimer upped their target price on shares of BrainsWay from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 16th. Raymond James cut BrainsWay from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of BrainsWay in a research note on Friday, September 22nd.

BrainsWay Stock Up 1.3 %

BrainsWay stock opened at $4.82 on Monday. BrainsWay has a 12-month low of $1.38 and a 12-month high of $4.93. The stock has a 50-day simple moving average of $3.94 and a 200 day simple moving average of $2.93. The stock has a market capitalization of $80.01 million, a price-to-earnings ratio of -19.28 and a beta of 0.89.

Institutional Investors Weigh In On BrainsWay

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of BrainsWay during the third quarter worth approximately $28,000. Good Life Advisors LLC bought a new stake in shares of BrainsWay during the first quarter worth approximately $32,000. Jane Street Group LLC bought a new stake in BrainsWay in the fourth quarter valued at approximately $38,000. Advisor Group Holdings Inc. increased its stake in BrainsWay by 130.5% in the first quarter. Advisor Group Holdings Inc. now owns 4,552 shares of the company’s stock valued at $40,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in BrainsWay in the first quarter valued at approximately $55,000. 30.76% 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, the Asia Pacific, Europe, 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.