Brainsway’s (BWAY) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Brainsway (NASDAQ:BWAY) in a research report report published on Thursday morning,Benzinga reports. BTIG Research currently has a $20.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. New Street Research reaffirmed a “buy” rating on shares of Brainsway in a report on Friday, July 24th. Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings cut Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Brainsway in a research report on Tuesday, September 8th. Finally, Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.20.

Brainsway Stock Performance

Brainsway stock opened at $13.93 on Thursday. Brainsway has a 52 week low of $7.14 and a 52 week high of $17.40. The stock has a market capitalization of $560.13 million, a P/E ratio of 31.66 and a beta of 1.25. The stock has a fifty day moving average of $15.08 and a 200-day moving average of $14.75.

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

Hedge Funds Weigh In On Brainsway

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Brainsway by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock valued at $490,000 after acquiring an additional 589 shares during the last quarter. Man Group plc raised its position in shares of Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock worth $343,000 after acquiring an additional 782 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Brainsway by 7.4% in the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock valued at $431,000 after purchasing an additional 1,964 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Brainsway in the 1st quarter valued at about $40,000. Finally, Ballast Advisors LLC bought a new stake in shares of Brainsway during the 1st quarter valued at about $55,000. 30.11% of the stock is currently owned by institutional investors.

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.