Brainsway (NASDAQ:BWAY) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Brainsway (NASDAQ:BWAY) from a buy rating to a hold rating in a research report report published on Friday.

BWAY has been the topic of several other research reports. Northland Securities set a $30.00 price target on shares of Brainsway in a report on Thursday. HC Wainwright lifted their target price on shares of Brainsway from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Brainsway Stock Performance

NASDAQ:BWAY opened at $23.04 on Friday. The stock has a 50-day simple moving average of $18.88 and a two-hundred day simple moving average of $16.09. Brainsway has a 52-week low of $7.84 and a 52-week high of $24.84. The firm has a market capitalization of $451.12 million, a PE ratio of 76.80 and a beta of 1.19.

Brainsway (NASDAQ:BWAY) last posted its quarterly earnings data on Tuesday, November 11th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $13.51 million during the quarter, compared to the consensus estimate of $13.04 million. Brainsway had a return on equity of 9.46% and a net margin of 12.73%. Equities analysts forecast that Brainsway will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Brainsway

A number of institutional investors and hedge funds have recently bought and sold shares of BWAY. Essex Investment Management Co. LLC boosted its holdings in shares of Brainsway by 3.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 310,684 shares of the company’s stock valued at $4,682,000 after purchasing an additional 9,744 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Brainsway by 6.1% in the second quarter. ARK Investment Management LLC now owns 199,826 shares of the company’s stock worth $2,628,000 after buying an additional 11,498 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in Brainsway by 559.8% during the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after buying an additional 97,537 shares during the last quarter. Two Sigma Investments LP boosted its stake in Brainsway by 25.2% during the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after buying an additional 20,706 shares during the last quarter. Finally, Huntleigh Advisors Inc. grew its holdings in Brainsway by 6.3% during the 3rd quarter. Huntleigh Advisors Inc. now owns 82,265 shares of the company’s stock valued at $1,240,000 after buying an additional 4,849 shares in the last quarter. 30.11% of the stock is currently owned by institutional investors.

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.