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

Brainsway (NASDAQ:BWAY)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $19.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 32.36% from the company’s current price.

A number of other research analysts have also weighed in on BWAY. New Street Research reissued a “buy” rating on shares of Brainsway in a research report on Friday, July 24th. Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. BTIG Research lifted their target price on shares of Brainsway from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Brainsway currently has an average rating of “Moderate Buy” and an average price target of $18.20.

Brainsway Stock Up 1.4%

NASDAQ BWAY traded up $0.20 on Tuesday, reaching $14.36. The company had a trading volume of 33,105 shares, compared to its average volume of 157,677. The company’s fifty day moving average is $15.18 and its 200 day moving average is $14.72. Brainsway has a 52-week low of $7.14 and a 52-week high of $17.40. The stock has a market capitalization of $577.21 million, a P/E ratio of 32.63 and a beta of 1.25.

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

Institutional Trading of Brainsway

Hedge funds have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Brainsway in the first quarter valued at about $40,000. Ballast Advisors LLC bought a new position in shares of Brainsway during the 1st quarter valued at approximately $55,000. Raymond James Financial Inc. purchased a new stake in shares of Brainsway during the 2nd quarter worth approximately $85,000. Bank of America Corp DE purchased a new stake in shares of Brainsway during the 3rd quarter worth approximately $107,000. Finally, Royal Bank of Canada raised its holdings in shares of Brainsway by 1,145.9% in the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock worth $160,000 after purchasing an additional 7,735 shares during the period. 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.