Brainsway (NASDAQ:BWAY) Upgraded at Zacks Research

Zacks Research upgraded shares of Brainsway (NASDAQ:BWAY) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Northland Securities set a $15.00 price objective on Brainsway in a report on Thursday, January 22nd. Finally, HC Wainwright cut their price objective on Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Brainsway has a consensus rating of “Buy” and an average price target of $15.00.

Brainsway Stock Down 2.7%

NASDAQ BWAY opened at $13.49 on Tuesday. The stock has a market capitalization of $529.71 million, a PE ratio of 53.96 and a beta of 1.20. Brainsway has a 12-month low of $3.92 and a 12-month high of $14.65. The company has a 50 day moving average price of $12.53 and a two-hundred day moving average price of $9.89.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. The company had revenue of $14.55 million for the quarter, compared to analyst estimates of $14.02 million. As a group, equities analysts anticipate that Brainsway will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Brainsway during the 2nd quarter worth $85,000. Bank of America Corp DE bought a new position in shares of Brainsway in the third quarter worth about $107,000. Royal Bank of Canada increased its stake in shares of Brainsway by 1,145.9% in the fourth 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. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Brainsway during the 4th quarter worth about $209,000. Finally, Centiva Capital LP bought a new stake in Brainsway during the 3rd quarter valued at approximately $181,000. Institutional investors own 30.11% of the company’s stock.

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.