Brainsway’s (BWAY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Brainsway (NASDAQ:BWAY) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $19.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. New Street Research reaffirmed a “buy” rating on shares of Brainsway in a report on Friday, July 24th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Zacks Research downgraded Brainsway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, LADENBURG THALM/SH SH raised their target price on shares of Brainsway from $18.00 to $18.80 and gave the stock a “buy” rating in a report on Thursday, August 13th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.20.

Brainsway Stock Performance

Shares of NASDAQ:BWAY opened at $13.91 on Tuesday. The stock has a market capitalization of $559.32 million, a price-to-earnings ratio of 31.61 and a beta of 1.25. Brainsway has a 1-year low of $7.14 and a 1-year high of $17.40. The company has a 50 day moving average price of $15.11 and a 200 day moving average price of $14.76.

Brainsway (NASDAQ:BWAY) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $17.11 million for the quarter, compared to analysts’ expectations of $16.54 million. Brainsway had a return on equity of 12.74% and a net margin of 15.65%. On average, sell-side analysts expect that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Brainsway

A number of institutional investors have recently bought and sold shares of BWAY. Masters Capital Management LLC raised its stake in shares of Brainsway by 65.0% in the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after acquiring an additional 650,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in Brainsway by 87.2% during the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock worth $6,890,000 after purchasing an additional 241,560 shares during the period. Sei Investments Co. boosted its position in Brainsway by 262.5% during the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after purchasing an additional 163,925 shares during the period. Y.D. More Investments Ltd boosted its position in Brainsway by 136.6% during the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after purchasing an additional 157,042 shares during the period. Finally, ARK Investment Management LLC acquired a new position in Brainsway during the fourth quarter valued at approximately $2,422,000. 30.11% of the stock is currently owned by institutional investors and hedge funds.

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.