Brainsway (NASDAQ:BWAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brainsway (NASDAQ:BWAY) from a hold rating to a buy rating in a research note published on Sunday morning.

Several other research analysts also recently commented on the stock. Zacks Research raised shares of Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. 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. BTIG Research initiated coverage on Brainsway in a research note on Monday, July 20th. They set a “buy” rating and a $18.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Brainsway in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.67.

Brainsway Stock Performance

BWAY stock opened at $15.80 on Friday. Brainsway has a one year low of $5.70 and a one year high of $17.35. The company’s fifty day moving average price is $15.05 and its 200-day moving average price is $14.16. The company has a market capitalization of $634.05 million, a PE ratio of 45.14 and a beta of 1.24.

Brainsway (NASDAQ:BWAY) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. On average, research analysts predict that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Brainsway

Several large investors have recently added to or reduced their stakes in BWAY. Masters Capital Management LLC raised its position in Brainsway by 65.0% during the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after purchasing an additional 650,000 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Brainsway by 87.2% in the 1st 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. Y.D. More Investments Ltd increased its position in shares of Brainsway by 136.6% during the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock valued at $3,615,000 after purchasing an additional 157,042 shares during the last quarter. Sei Investments Co. raised its holdings in Brainsway by 262.5% during the 1st quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after buying an additional 163,925 shares during the period. Finally, ARK Investment Management LLC purchased a new stake in Brainsway during the 4th quarter valued at $2,422,000. 30.11% of the stock is owned by institutional investors.

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.