BTIG Research Reaffirms Buy Rating for Brainsway (NASDAQ:BWAY)

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating reissued by BTIG Research in a report issued on Thursday, Benzinga reports. They currently have a $20.00 price objective on the stock. BTIG Research’s price objective indicates a potential upside of 38.79% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. New Street Research reiterated a “buy” rating on shares of Brainsway in a report on Friday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Brainsway in a report on Tuesday. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH upped their target price on shares of Brainsway from $18.00 to $18.80 and gave the company a “buy” rating in a research note on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.20.

Brainsway Price Performance

NASDAQ BWAY opened at $14.41 on Thursday. Brainsway has a 12 month low of $7.14 and a 12 month high of $17.40. The company has a market capitalization of $579.43 million, a P/E ratio of 32.75 and a beta of 1.25. The company’s 50 day simple moving average is $15.13 and its 200 day simple moving average is $14.74.

Brainsway (NASDAQ:BWAY) last issued its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $17.11 million during the quarter, compared to analysts’ expectations of $16.54 million. Brainsway had a net margin of 15.65% and a return on equity of 12.74%. On average, analysts anticipate that Brainsway will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in shares of Brainsway by 87.2% in the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after buying an additional 241,560 shares during the period. Y.D. More Investments Ltd increased its holdings 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 buying an additional 157,042 shares during the last quarter. Masters Capital Management LLC increased 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 worth $21,928,000 after buying an additional 650,000 shares during the last quarter. Sei Investments Co. raised its stake in Brainsway by 262.5% in the 1st quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after acquiring an additional 163,925 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Brainsway in the first quarter valued at about $433,000. 30.11% of the stock is owned by institutional investors and hedge funds.

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.