Brainsway’s (BWAY) Buy Rating Reiterated at HC Wainwright

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $17.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 11.18% from the company’s previous close.

Several other equities research analysts also recently issued reports on BWAY. Weiss Ratings upgraded shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Zacks Research lowered Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Brainsway Price Performance

Shares of BWAY stock opened at $15.29 on Thursday. The stock has a market cap of $613.59 million, a P/E ratio of 43.69 and a beta of 1.22. The company has a fifty day moving average price of $15.30 and a two-hundred day moving average price of $13.22. Brainsway has a one year low of $5.68 and a one year high of $17.35.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $15.53 million during the quarter, compared to the consensus estimate of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. As a group, equities research analysts anticipate that Brainsway will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Institutional investors and hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Brainsway during the first quarter worth approximately $40,000. Ballast Advisors LLC bought a new stake in Brainsway in the 1st quarter valued at $55,000. Raymond James Financial Inc. acquired a new position in Brainsway in the 2nd quarter valued at $85,000. Bank of America Corp DE acquired a new position in Brainsway in the 3rd quarter valued at $107,000. Finally, Royal Bank of Canada grew its holdings in Brainsway by 1,145.9% in the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after buying an additional 7,735 shares in the last quarter. 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.