Brainsway (NASDAQ:BWAY) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Brainsway (NASDAQ:BWAY) from a hold rating to a buy rating in a research report sent to investors on Sunday.

A number of other research analysts also recently issued reports on the company. BTIG Research initiated coverage on Brainsway in a report on Monday, July 20th. They issued a “buy” rating and a $18.00 price target for the company. Zacks Research raised shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research note 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 note on Tuesday, July 21st. Finally, HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Brainsway in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $15.67.

Brainsway Stock Performance

Shares of BWAY stock opened at $15.23 on Friday. The stock’s 50-day simple moving average is $15.04 and its 200-day simple moving average is $14.11. The firm has a market capitalization of $611.16 million, a PE ratio of 43.52 and a beta of 1.22. Brainsway has a fifty-two week low of $5.68 and a fifty-two week high of $17.35.

Brainsway (NASDAQ:BWAY) last released its earnings results on Wednesday, May 13th. The company reported $0.12 EPS 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 the consensus estimate of $14.63 million. Brainsway had a return on equity of 12.28% and a net margin of 15.68%. Sell-side analysts forecast that Brainsway will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BWAY. Goldman Sachs Group Inc. boosted its holdings in Brainsway by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock valued at $490,000 after purchasing an additional 589 shares during the last quarter. Man Group plc grew its stake in shares of Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after buying an additional 782 shares during the period. NewEdge Advisors LLC grew its stake in shares of Brainsway by 7.4% in the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock valued at $431,000 after buying an additional 1,964 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Brainsway during the 1st quarter worth approximately $40,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Brainsway during the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors 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.