Brainsway (NASDAQ:BWAY) Hits New 52-Week High – Time to Buy?

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) shares reached 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.

Wall Street Analyst Weigh In

BWAY has been the subject of several research analyst reports. HC Wainwright cut their price objective on Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Northland Securities set a $15.00 target price on Brainsway in a report on Thursday, January 22nd. Weiss Ratings raised shares of Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Zacks Research upgraded shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Finally, Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.00.

Brainsway Price Performance

The stock’s fifty day moving average price is $14.00 and its 200-day moving average price is $11.09. The firm has a market cap of $674.51 million, a price-to-earnings ratio of 67.39 and a beta of 1.10.

Brainsway (NASDAQ:BWAY) last announced its earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $14.55 million for the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. As a group, equities research analysts predict that Brainsway Ltd. Sponsored ADR will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Brainsway

Several hedge funds have recently bought and sold shares of the business. Y.D. More Investments Ltd increased its holdings in shares of Brainsway by 559.8% in the 4th quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after purchasing an additional 97,537 shares during the period. Legato Capital Management LLC lifted its position in shares of Brainsway by 9.3% in the fourth quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock worth $1,852,000 after purchasing an additional 8,295 shares in the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Brainsway during the fourth quarter worth approximately $209,000. Sigma Planning Corp acquired a new stake in shares of Brainsway during the fourth quarter worth approximately $285,000. Finally, Huntleigh Advisors Inc. grew its position in Brainsway by 5.8% during the fourth quarter. Huntleigh Advisors Inc. now owns 87,076 shares of the company’s stock valued at $1,656,000 after purchasing an additional 4,811 shares in the last quarter. 30.11% of the stock is owned by hedge funds and other institutional investors.

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.