Brainsway’s (BWAY) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Brainsway (NASDAQ:BWAY) in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a $19.00 target price on the stock.

Several other research firms have also issued reports on BWAY. Weiss Ratings lowered Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of Brainsway in a research report on Thursday, September 10th. New Street Research reiterated a “buy” rating on shares of Brainsway in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Zacks Research cut shares of Brainsway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.20.

Brainsway Stock Down 0.4%

NASDAQ:BWAY opened at $11.98 on Monday. The stock’s fifty day moving average is $13.50 and its two-hundred day moving average is $14.61. Brainsway has a 52 week low of $7.14 and a 52 week high of $17.40. The stock has a market capitalization of $482.19 million, a price-to-earnings ratio of 27.34 and a beta of 1.29.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Brainsway had a return on equity of 12.74% and a net margin of 15.65%. The business had revenue of $17.11 million during the quarter, compared to analyst estimates of $16.54 million. On average, sell-side analysts expect that Brainsway will post 0.33 EPS for the current fiscal year.

Institutional Trading of Brainsway

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Brainsway in the first quarter valued at approximately $40,000. Ballast Advisors LLC acquired a new position in Brainsway during the 1st quarter worth approximately $55,000. Royal Bank of Canada grew its holdings in Brainsway by 84.2% during the 1st quarter. Royal Bank of Canada now owns 15,490 shares of the company’s stock worth $206,000 after acquiring an additional 7,080 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Brainsway by 434.6% during the 2nd quarter. NewEdge Advisors LLC now owns 18,830 shares of the company’s stock worth $292,000 after acquiring an additional 15,308 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Brainsway in the 1st quarter valued at approximately $206,000. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

About Brainsway

BrainsWay Ltd. is a medical technology company that develops and commercializes noninvasive treatments for brain disorders. Its primary technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields to stimulate targeted areas of the brain and is delivered through specialized treatment systems and helmet-like coils.

The company’s Deep TMS platform is used by healthcare providers in the treatment of major depressive disorder, obsessive-compulsive disorder and smoking addiction, subject to applicable regulatory clearances and local treatment guidelines.