Brainsway (NASDAQ:BWAY) Shares Gap Up – Here’s Why

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $13.92, but opened at $14.49. Brainsway shares last traded at $14.2060, with a volume of 23,715 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Northland Securities set a $15.00 price target on Brainsway in a report on Thursday, January 22nd. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. HC Wainwright decreased their target price on Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $15.00.

Brainsway Price Performance

The firm’s 50 day simple moving average is $12.96 and its 200-day simple moving average is $10.44. The company has a market cap of $587.12 million, a price-to-earnings ratio of 59.88 and a beta of 1.10.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $14.55 million for the quarter, compared to analysts’ expectations of $14.02 million. Brainsway had a return on equity of 11.10% and a net margin of 14.62%. On average, analysts forecast that Brainsway Ltd. Sponsored ADR will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Brainsway

Several large investors have recently modified their holdings of BWAY. NewEdge Advisors LLC boosted its holdings in shares of Brainsway by 61.5% in the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock valued at $188,000 after acquiring an additional 7,549 shares during the period. Raymond James Financial Inc. purchased a new stake in Brainsway in the 2nd quarter valued at $85,000. Eagle Global Advisors LLC raised its position in Brainsway by 19.3% in the 3rd quarter. Eagle Global Advisors LLC now owns 74,326 shares of the company’s stock valued at $1,120,000 after purchasing an additional 12,000 shares during the last quarter. Huntleigh Advisors Inc. boosted its stake in Brainsway by 6.3% during the 3rd quarter. Huntleigh Advisors Inc. now owns 82,265 shares of the company’s stock worth $1,240,000 after purchasing an additional 4,849 shares during the period. Finally, Essex Investment Management Co. LLC boosted its stake in Brainsway by 3.2% during 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. 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.