Brainsway (NASDAQ:BWAY) Shares Up 5.5% – Still a Buy?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s stock price was up 5.5% during mid-day trading on Monday . The stock traded as high as $16.84 and last traded at $16.59. 150,461 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 164,412 shares. The stock had previously closed at $15.73.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Brainsway in a report on Friday. BTIG Research assumed coverage on Brainsway in a report on Monday. They issued a “buy” rating and a $18.00 target price for the company. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings upgraded Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $15.67.

Brainsway Stock Up 6.6%

The stock has a market capitalization of $673.02 million, a price-to-earnings ratio of 48.06 and a beta of 1.22. The stock’s 50-day simple moving average is $15.01 and its 200 day simple moving average is $13.74.

Brainsway (NASDAQ:BWAY) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. As a group, equities research analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

Several institutional investors have recently bought and sold shares of BWAY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway during the first quarter worth $40,000. Ballast Advisors LLC acquired a new position in Brainsway during the 1st quarter worth about $55,000. Raymond James Financial Inc. acquired a new position in Brainsway during the 2nd quarter worth about $85,000. Bank of America Corp DE bought a new stake in Brainsway during the 3rd quarter worth about $107,000. Finally, Royal Bank of Canada grew its holdings in Brainsway by 1,145.9% during the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock worth $160,000 after acquiring an additional 7,735 shares during 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.