Brainsway (NASDAQ:BWAY) Now Covered by Analysts at BTIG Research

Research analysts at BTIG Research began coverage on shares of Brainsway (NASDAQ:BWAY) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 14.43% from the stock’s current price.

BWAY has been the topic of a number of other research reports. 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 raised shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Brainsway in a research report on Friday. Finally, Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.67.

Brainsway Stock Performance

Brainsway stock opened at $15.73 on Monday. The business’s fifty day moving average is $15.01 and its two-hundred day moving average is $13.74. The firm has a market cap of $631.24 million, a P/E ratio of 44.94 and a beta of 1.22. Brainsway has a 52 week low of $5.68 and a 52 week high of $17.35.

Brainsway (NASDAQ:BWAY) last announced its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The company had revenue of $15.53 million during the quarter, compared to analyst estimates of $14.63 million. On average, equities research analysts predict that Brainsway will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

Several institutional investors have recently modified their holdings of BWAY. Masters Capital Management LLC lifted its holdings in shares of Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after purchasing an additional 650,000 shares in the last quarter. Renaissance Technologies LLC raised its position in Brainsway by 87.2% in the 1st quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after buying an additional 241,560 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in Brainsway by 136.6% in the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock valued at $3,615,000 after acquiring an additional 157,042 shares in the last quarter. Sei Investments Co. boosted its position in Brainsway by 262.5% during the 1st quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after acquiring an additional 163,925 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new stake in shares of Brainsway in the fourth quarter valued at approximately $2,422,000. Institutional investors own 30.11% of the company’s stock.

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.