Brainsway (NASDAQ:BWAY) Reaches New 52-Week High – Here’s Why

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) shares hit a new 52-week high on Friday . The company traded as high as $16.80 and last traded at $16.8190, with a volume of 15032 shares. The stock had previously closed at $16.56.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Northland Securities set a $15.00 price target on Brainsway in a research note on Thursday, January 22nd. HC Wainwright decreased their price objective on Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Finally, Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.00.

Brainsway Trading Up 1.7%

The stock has a market capitalization of $674.11 million, a price-to-earnings ratio of 67.36 and a beta of 1.23. The stock has a 50-day simple moving average of $14.00 and a 200 day simple moving average of $11.12.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Brainsway had a return on equity of 11.10% and a net margin of 14.62%.The firm had revenue of $14.55 million during the quarter, compared to analyst estimates of $14.02 million. Sell-side analysts expect that Brainsway Ltd. Sponsored ADR will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brainsway

Institutional investors have recently bought and sold shares of the business. Y.D. More Investments Ltd lifted its holdings in shares of Brainsway by 559.8% during the 4th 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. Bullseye Asset Management LLC acquired a new stake in shares of Brainsway during the 4th quarter valued at about $299,000. Legato Capital Management LLC lifted its holdings in shares of Brainsway by 9.3% during the 4th quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock valued at $1,852,000 after buying an additional 8,295 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Brainsway during the 4th quarter valued at about $209,000. Finally, Sigma Planning Corp acquired a new stake in shares of Brainsway during the 4th quarter valued at about $285,000. 30.11% of the stock is currently 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.