Brainsway (NASDAQ:BWAY) Price Target Raised to $18.80

Brainsway (NASDAQ:BWAY) had its price target upped by LADENBURG THALM/SH SH from $18.00 to $18.80 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

BWAY has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Brainsway in a report on Friday, July 17th. New Street Research reaffirmed a “buy” rating on shares of Brainsway in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brainsway in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, Zacks Research lowered shares of Brainsway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.95.

Brainsway Price Performance

Shares of BWAY opened at $16.32 on Thursday. The company has a market capitalization of $654.92 million, a P/E ratio of 37.09 and a beta of 1.24. Brainsway has a one year low of $6.26 and a one year high of $17.40. The business’s 50 day simple moving average is $15.18 and its 200-day simple moving average is $14.38.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Brainsway had a net margin of 15.65% and a return on equity of 12.74%. The business had revenue of $17.11 million for the quarter, compared to analyst estimates of $16.54 million. On average, sell-side analysts anticipate that Brainsway will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BWAY. NewEdge Advisors LLC raised its position in shares of Brainsway by 61.5% during the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after acquiring an additional 7,549 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Brainsway during the second quarter valued at $85,000. UBS Group AG boosted its holdings in Brainsway by 2,028.6% in the third quarter. UBS Group AG now owns 63,878 shares of the company’s stock valued at $963,000 after acquiring an additional 60,877 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Brainsway by 25.2% in the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after acquiring an additional 20,706 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Brainsway in the third quarter valued at about $107,000. 30.11% of the stock is currently owned by institutional investors.

Key Headlines Impacting Brainsway

Here are the key news stories impacting Brainsway this week:

• Positive Sentiment: Ladenburg Thalmann raised its price target for Brainsway from $18.00 to $18.80 and assigned a “buy” rating, implying approximately 15.4% upside from the referenced $16.30 price. Benzinga article
• Positive Sentiment: BTIG Research forecast strong potential price appreciation for BWAY, adding to the positive analyst momentum around the stock. BTIG Research Forecasts Strong Price Appreciation for Brainsway
• Positive Sentiment: Brainsway shares advanced sharply following an analyst upgrade, indicating that investors responded favorably to the improved Wall Street outlook. Brainsway Trading Up Following Analyst Upgrade
• Positive Sentiment: The stock set a new 52-week high following what was characterized as strong earnings. The latest quarter included revenue of $17.11 million, above the $16.54 million consensus estimate, although earnings per share fell short of expectations. Brainsway Sets New One-Year High Following Strong Earnings

Brainsway Company Profile

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.