Brainsway (NASDAQ:BWAY) Sets New 52-Week High – What’s Next?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $17.35 and last traded at $16.74, with a volume of 260714 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

Several analysts have weighed in on BWAY shares. HC Wainwright dropped their price objective on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Zacks Research upgraded shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, Northland Securities set a $15.00 price objective on shares of Brainsway in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Brainsway presently has a consensus rating of “Buy” and an average price target of $15.00.

Brainsway Stock Performance

The stock has a market capitalization of $670.27 million, a P/E ratio of 66.96 and a beta of 1.23. The stock’s fifty day simple moving average is $14.57 and its two-hundred day simple moving average is $11.51.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. The firm had revenue of $14.55 million for the quarter, compared to analyst estimates of $14.02 million. As a group, analysts expect that Brainsway Ltd. Sponsored ADR will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Y.D. More Investments Ltd lifted its position in shares of Brainsway by 559.8% in the 4th quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock worth $2,187,000 after purchasing an additional 97,537 shares during the period. Bullseye Asset Management LLC acquired a new position in shares of Brainsway in the 4th quarter worth approximately $299,000. Legato Capital Management LLC lifted its position in shares of Brainsway by 9.3% in the 4th quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock worth $1,852,000 after purchasing an additional 8,295 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Brainsway in the 4th quarter worth approximately $209,000. Finally, Sigma Planning Corp acquired a new position in shares of Brainsway in the 4th quarter worth approximately $285,000. Institutional investors and hedge funds own 30.11% of the company’s stock.

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.