Brainsway (NASDAQ:BWAY) Coverage Initiated by Analysts at BTIG Research

BTIG Research began coverage on shares of Brainsway (NASDAQ:BWAY) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $18.00 price objective on the stock.

A number of other brokerages have also recently issued reports on BWAY. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Brainsway in a research note on Friday. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $15.67.

Brainsway Stock Up 4.9%

BWAY stock opened at $16.50 on Monday. The business’s 50-day moving average price is $15.01 and its 200-day moving average price is $13.79. The stock has a market cap of $662.14 million, a P/E ratio of 47.14 and a beta of 1.22. Brainsway has a twelve month low of $5.68 and a twelve month high of $17.35.

Brainsway (NASDAQ:BWAY) last released its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. The company had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. On average, equities research analysts expect that Brainsway will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brainsway

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Brainsway during the first quarter worth $40,000. Ballast Advisors LLC bought a new stake in Brainsway in the 1st quarter valued at $55,000. Raymond James Financial Inc. bought a new stake in Brainsway in the 2nd quarter valued at $85,000. Bank of America Corp DE purchased a new stake in Brainsway in the 3rd quarter worth $107,000. Finally, Royal Bank of Canada lifted its stake in 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 in the last quarter. 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.