Brainsway (NASDAQ:BWAY) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Brainsway (NASDAQ:BWAY) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Northland Securities set a $15.00 price objective on shares of Brainsway in a report on Thursday, January 22nd. HC Wainwright decreased their price objective on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.00.

Brainsway Stock Performance

Brainsway stock opened at $13.86 on Tuesday. The firm has a market capitalization of $544.28 million, a PE ratio of 55.44 and a beta of 1.20. Brainsway has a one year low of $3.92 and a one year high of $14.65. The stock’s 50 day moving average price is $12.49 and its 200 day moving average price is $9.87.

Brainsway (NASDAQ:BWAY) last issued its quarterly earnings data on Wednesday, March 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. The company had revenue of $14.55 million during the quarter, compared to the consensus estimate of $14.02 million. On average, analysts forecast that Brainsway will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Brainsway

A number of hedge funds have recently made changes to their positions in BWAY. Raymond James Financial Inc. acquired a new stake in shares of Brainsway during the second quarter worth approximately $85,000. Bank of America Corp DE acquired a new stake in Brainsway in the third quarter valued at $107,000. Royal Bank of Canada raised its holdings in 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 acquiring an additional 7,735 shares in the last quarter. Centiva Capital LP bought a new position in Brainsway during the 3rd quarter valued at $181,000. Finally, NewEdge Advisors LLC grew its holdings 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 acquiring 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.