Wall Street Zen Upgrades Brainsway (NASDAQ:BWAY) to “Buy”

Brainsway (NASDAQ:BWAY) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts also recently commented on BWAY. HC Wainwright upped their target price on shares of Brainsway from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Northland Securities set a $15.00 price target on shares of Brainsway in a research note on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Brainsway Price Performance

BWAY stock opened at $12.34 on Friday. Brainsway has a 12 month low of $3.92 and a 12 month high of $13.31. The firm’s 50-day moving average is $11.75 and its 200 day moving average is $9.35. The company has a market capitalization of $483.97 million, a PE ratio of 82.27 and a beta of 1.20.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC lifted its position in shares of Brainsway by 3.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 310,684 shares of the company’s stock worth $4,682,000 after purchasing an additional 9,744 shares during the period. ARK Investment Management LLC purchased a new position in Brainsway during the fourth quarter valued at approximately $2,422,000. Y.D. More Investments Ltd increased its holdings in Brainsway by 559.8% during the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after buying an additional 97,537 shares during the period. Two Sigma Investments LP raised its stake in Brainsway by 25.2% in the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock worth $1,551,000 after buying an additional 20,706 shares in the last quarter. Finally, Legato Capital Management LLC lifted its holdings in Brainsway by 9.3% during the fourth quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock worth $1,852,000 after buying an additional 8,295 shares during the period. Hedge funds and other institutional investors 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.